<p>According to the 4h chart based on Sydney time, the pair is battling around 61.8% retracement level for the fall from 1.14994 to 1.12134. The EUR encountered great support from the 100 SMA and rebounded back. However, the bearish moment will extend if 50% level at 1.13564 gets pierced. The follow-through selling-off will cause loss till 23.6% level at 1.12809. The negative bull power adds credence to the argument.</p>
<p>On the flip side, if the ascending get extended by penetrating the 61.8% level and sustained. A further gain is foreseeable back at 1.14382.&nbsp;</p>

Bearish moment for EUR

Dec 01 2020