EUR/USD Technical Analysis: Near-term rising support to face refreshed downside pressure from 1.1400

• EUR/USD trades towards the downside after Friday's spike above the 1.1400 handle, but the Fiber is struggling to maintain recent bullish gains and looks set to withdraw back to intraday support zones from the 38.2% Fibo retracement level.
• EUR/USD Forecast: Descending trend-channel caps additional gains ahead of a crucial week for Italian budget

EUR/USD Chart, 5-Minute

• The past two weeks have seen the EUR/USD drive higher in bullish recovery mode, boosted by a near-term rising trendline, but gains are likely capped at the last swing high that failed to capture the 1.1500 handle in early November.

EUR/USD Chart, 30-Minute

• The near-term rising trendline is also due to face stiff resistance from a medium-term declining trendline over the past two months, and the 200-period moving average currently perched at 1.1435, is acting as firm resistance ever since the Fiber declined below the critical indicator in late September.

EUR/USD Chart, 4-Hour