FXStreet (Mumbai) - Having failed to sustain at higher levels, EUR/USD reverted to familiar ranges around 1.0930 and remains little changed after the European markets opened on a mixed note. EUR/USD forms a small doji on daily sticks The EUR/USD pair trades modestly flat at 1.0926, stuck around hourly 5 & 10-SMA confluence. The major extends its consolidative phase, although remains better bid as the shared currency benefits from the cautious start seen in the European markets, with the traders still digesting the recent FOMC decision. The stocks on the European bourses opened on a positive note; however, the indices quickly pared gains and trades cautious amid mixed corporate news. The DAX trims gains to trade 0.16% higher, while the UK’s FTSE drops -0.84%. The pan European benchmark, the Euro Stoxx 50 defends mild gains and trades near 3,420 points. However, the recovery in the EUR/USD pair appears short-lived as the divergent monetary policy outlooks between both continents continue to weigh on the EUR. On Wednesday, the Fed indicated chances of a Dec rate hike while the ECB hinted towards more easing in Dec last week. Meanwhile, the sentiment on the European markets is likely to dominate the moves in EUR/USD. While German CPI print and the crucial first estimate of the US Q3 GDP is lined up for released later today. EUR/USD Technical Levels The pair bounced-off 1.09 handle and heads lower towards the immediate resistance seen at 1.0970 (daily pivot), beyond which 1.0994/1.1000 (5-DMA/ round number) would be tested. A break above the last, 1.1022 (1h 50-SMA) would come into the picture. While to the downside, the next support is located at 1.09/1.0897 (psychological levels/ Oct 28 Low). Selling pressure will intensify below the last, dragging the pair towards 1.0844/40 (daily S1/ Aug lows) and below that 1.0800 (round number) could be exposed. For more information, read our latest forex news.