EUR/USD: Up 0.21% to 1.1147 — Descending Channel
MarketsFN Team
EUR/USD: Up 0.21% to 1.1147 — Descending Channel
Published: October 28, 2026 · MarketsFN Team · US Session
| Pair | Rate | Change | RSI(14) | SMA-20 | SMA-50 | 52W High | 52W Low | Pivot | R1 | S1 |
|---|---|---|---|---|---|---|---|---|---|---|
| EUR/USD | 1.1147 | +0.21% | 42.5 | 1.1204 | 1.1408 | 1.2041 | 1.1124 | 1.1141 | 1.1160 | 1.1105 |
📊 Support & Resistance Levels
Dynamic Trendlines
| Level | Type | Direction | Distance |
|---|---|---|---|
| 1.1102 | 20d Support | → flat | -0.40% / 45.0 pips |
| 1.1234 | 20d Resistance | ↘ descending | +0.78% / 86.6 pips |
| 1.0900 | 50d Support | ↘ descending | -2.22% / 247.6 pips |
| 1.1205 | 50d Resistance | ↘ descending | +0.52% / 57.6 pips |
Static Levels
| Level | Type | Touches | Distance |
|---|---|---|---|
| 1.1668 | Resistance | 2× | +4.67% / 520.3 pips |
| 1.1654 | Resistance | 2× | +4.55% / 507.2 pips |
| 1.1640 | Resistance | 2× | +4.42% / 492.7 pips |
EUR/USD is trading at 1.1147 (+0.21%), testing the upper bounds of its daily range (1.1113–1.1152) but still trapped in a clear downtrend below both the 20-day (1.1204) and 50-day (1.1408) SMAs. The pair remains 86.6 pips below the descending 20-day dynamic resistance at 1.1234, with immediate static resistance at R1 (1.1160, +13 pips). Today’s minor rally lacks conviction—the RSI at 42.5 shows no momentum extremes, and the 20-day ATR of 59 pips suggests this is noise within a broader bearish structure.
The descending 20-day channel (support at 1.1102, -45 pips) confirms the downtrend, with sellers likely to defend the 1.1141 pivot. A break below 1.1102 opens the path to the 50-day dynamic support at 1.0900 (-247 pips), while any rally faces layered resistance: first at 1.1160 (R1), then the descending 20-day dynamic resistance (1.1234). Static resistance clusters above 1.1640 are irrelevant for now—this is a seller’s market until EUR/USD reclaims the 20-day SMA.
Short-term, watch for rejection at 1.1160 (R1) to confirm bearish continuation. The US session’s price action will be decisive—failure to hold above 1.1141 pivots risks a retest of today’s low (1.1113). Until the RSI breaks above 50 or the pair closes above the 20-day SMA, rallies remain sellable. The next catalyst is Friday’s US core PCE data—a hot print could accelerate the downtrend toward 1.0900.
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