EUR/USD Price Forecast: Break below 1.1100 puts 1.1000 in focus

The EUR/USD pair extends its losses below 1.1100 on Wednesday as traders digest the Federal Reserve's (Fed) hawkish comments, which have increased the odds of a rate hike. At the time of writing, the pair trades at 1.1092, its lowest level since May 2025.

EUR/USD Price Forecast: Technical outlook

From a technical standpoint, EUR/USD cleared a key support level, but a daily close below 1.1100 would be required, potentially paving the way for further losses. The Relative Strength Index (RSI) is bearish and trending towards oversold territory, indicating that sellers are in control.

If EUR/USD stays below 1.1100, a move toward the May 23, 2025, swing low of 1.1050 is on the cards. The next stop is the 1.1000 psychological level, followed by the May 12, 2025, low of the day (LOD) at 1.0951.

On the upside, the first resistance is 1.1100. Once hurdled, the next stop is the day’s high of 1.1170, ahead of 1.1200. Key resistance lies above at 1.1273 on November 4, followed by 1.1300.

EUR/USD Price Chart – Daily