EURUSD: Bearish Pressure Builds Near 1.1050 Support

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of EURUSD for November 13, 2026.

Technical Analysis of EURUSD

EURUSD Daily Chart Insight

(EURUSD Daily Chart, Source: Ultima Markets MT5)

EURUSD remains firmly bearish on the daily chart, extending its broader downward trend after breaking below the recent consolidation area around 1.1127–1.1218. The latest decline has pushed the pair toward 1.1052, marking a fresh low within the visible chart period. Price continues to trade below the red 16-period moving average (MA16), purple 50-period moving average (MA50), and blue 100-period moving average (MA100), with all three averages sloping downward.

Their bearish alignment reinforces the prevailing selling pressure, while the daily RSI at 34.72 confirms weak momentum. Sellers retain the broader advantage, although the latest decline leaves EURUSD approaching immediate support near 1.1050. Further downside confirmation requires a sustained break below this area, while any meaningful recovery would first need to reclaim the broken support zone around 1.1127.

Key Levels:

• Support 1 (1.1050–1.1052): The immediate support area surrounding the latest daily low. A sustained breakdown would confirm further bearish pressure.
• Resistance 1 (1.1081–1.1127): The nearest recovery zone, covering the recent breakdown area and former support levels.
• Resistance 2 (1.1172–1.1218): A broader resistance region associated with the declining MA16 and the previous daily consolidation structure.
• Resistance 3 (1.1263): A higher resistance area near several visible swing highs formed during the recent consolidation phase.

EURUSD 2-Hour Chart Analysis

(EURUSD 2-Hour Chart, Source: Ultima Markets MT5)

The 2-hour chart reinforces the bearish outlook, with EURUSD forming successive lower highs and lower lows following a sharp decline from the 1.1240 region. Price is currently consolidating near 1.10525 after breaking below the recent trading area around 1.1083–1.1093. The red 16-period moving average (MA16) continues to slope sharply downward, remaining beneath the purple 50-period moving average (MA50) and blue 100-period moving average (MA100). Price is positioned below all three averages, highlighting persistent selling pressure.

Meanwhile, the RSI at 28.12 has entered oversold territory, suggesting that a temporary rebound or sideways pause may develop despite the bearish structure. However, sellers remain in control unless EURUSD can reclaim the nearby resistance levels and establish a more convincing recovery.

Breakout Scenarios:

• Bullish recovery is a possible scenario, triggered by a decisive break and hold above 1.1073, potentially opening the way toward 1.1093 and subsequently 1.1103. A sustained recovery would be required to challenge the prevailing bearish structure.
• Bearish continuation is the higher-probability outcome, triggered by a failure to hold the 1.1050–1.10525 area followed by a decisive breakdown. This could expose the recent intraday wick lows just below 1.1050 and potentially extend the existing downward trend.

EURUSD Pivot Indicator

(EURUSD 30-Minute Chart, Source: Trading Central)

The 30-minute chart shows EURUSD trading around 1.1050, slightly above the main pivot level at 1.1032. This maintains a cautiously bullish immediate preference according to the pivot structure, although the broader intraday price action remains under pressure. The RSI stands at 34.69, reflecting weak buying momentum, while the MACD is hovering marginally below the zero line with its lines converging, suggesting that bearish momentum may be stabilising.

Price continues to trade beneath the downward-sloping moving averages, indicating that a sustained rebound has yet to be confirmed. The pivot at 1.1032 therefore remains critical in determining whether EURUSD can attempt a technical recovery or resume its decline.

Breakout Scenarios:

• Bullish Breakout: Holding above the 1.1032 pivot would preserve the possibility of a recovery toward 1.1080 as the first upside target, followed by 1.1093 as the second resistance level. Stronger confirmation would require the RSI to recover from 34.69 alongside a bullish MACD crossover.
• Bearish Rejection: A decisive break below 1.1032 would invalidate the immediate bullish preference, exposing 1.1010 as the first downside target and 1.0998 as the second support level. Further weakness in the RSI, accompanied by the MACD turning lower beneath its signal line, would reinforce the bearish scenario.

Disclaimer Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.