EUR/USD daily: 1.1100 support broken, target 1.0733
FXFibo editorial · · 1 min readEUR/USD is moving inside a large descending channel and has now broken the 1.1100–1.1130 support zone. The main scenario is a continued decline towards the channel floor (around 1.0980) and then the March 2025 low at 1.0733.
Main scenario
The 1.1130–1.1200 zone, formerly support, is now resistance and serves as the selling area. Target 1 is the descending channel floor around 1.0980, and target 2 is the 1.0733 low.
Alternative scenario
If price breaks the 1.1285 high (2 Oct), a corrective rally to 1.1436–1.1549 (channel top and 0.707 retracement) is possible, which would be the next selling opportunity.
Key levels
Resistance: 1.1130–1.1200 — 1.1285 — 1.1324 — 1.1436 — 1.1500–1.1549 Support: 1.1065 — 1.0980 channel floor — 1.0733
Market-moving events
US inflation data, Fed speakers
On the daily chart, EUR/USD has been moving inside a descending channel since early 2026, and every touch of the channel top has started a new bearish leg. The last touch came near 1.1695, and price has been breaking successive lows since. The break of the 1.1100–1.1130 zone shows that sellers are still in control.