Chart of the day: Is EUR/USD heading for another breakdown or a surprise comeback?
We are now seeing price action hover back to roughly 1.1150 following being rejected once again yesterday. The weekly chart exemplifies why the 1.1100 level is a key one to watch.
In this article
In today's EUR/USD news, we are now seeing price action hover back to roughly 1.1150 following being rejected once again yesterday, according to investingLive. The weekly chart exemplifies why the 1.1100 level is a key one to watch.
Key points
- The 200-week moving average (blue line) sits nearby about 1.1109 and provides a key line of defence for buyers.
- Leveraged funds have built their biggest net short euro position since early 2020 as of last week.
- Yesterday's US inflation data reinforces expectations that the Fed will have to stay on a more hawkish path.
EUR/USD: the details
The 200-week moving average (blue line) sits nearby about 1.1109 and provides a key line of defence for buyers, alongside the 50.0 Fib retracement level at 1.1129. Yesterday's US inflation data reinforces expectations that the Fed will have to stay on a more hawkish path, with the debate on another tightening move in December more or less settled. Leveraged funds have built their biggest net short euro position since early 2020 as of last week, according to the latest CFTC data.
Why traders are watching EUR/USD
Expectations for US interest rates sit behind almost every move in the dollar, bond yields and equities. When the outlook for Fed policy changes, traders reprice the whole curve of rate expectations at once.
A more hawkish tone usually supports the dollar and weighs on gold and growth stocks, while a dovish tilt tends to do the opposite. That is why traders read every comment from policymakers closely.
Market reaction and data
On the currency side, the latest ECB daily reference rates (2026-11-10) show EUR/USD 1.1214, GBP/USD 1.3423, AUD/USD 0.6904, NZD/USD 0.5628, USD/JPY 158.18, USD/CHF 0.8207, USD/CAD 1.4136, USD/CNY 6.6703. These are reference fixes, not live quotes.
What to watch next for EUR/USD
Traders will focus on upcoming comments from Fed officials, the next inflation and labour-market releases, and pricing in rate futures for clues about the timing of the next policy move.
Key scheduled releases on the economic calendar:
- GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
- USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
- USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%
Follow every update in our Top 10 Forex News Today, read European equity market open: European shares keep the good times rolling this week or see all of today's top market news.
FAQ
What is the latest EUR/USD news?
We are now seeing price action hover back to roughly 1.1150 following being rejected once again yesterday.
How do Fed rate decisions affect forex markets?
Higher US rates tend to attract capital into dollar assets and strengthen the greenback, while lower rates or dovish guidance usually weaken it against other major currencies.
Where does this information come from?
This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
