FXStreet (Guatemala) - EUR/USD is currently trading at 1.1348 with a high of 1.1363 and a low of 1.1343. EUR/USD is weighted to the downside in Asia, while the bulls take a step back from the hourly 20 SMA and recently scored highs for October at 1.1363, a bulls gallop away from the psychological 1.14 handle. EUR/USD has shed 16 pips in a bearish drift accumulating support at the 55 SMA ,1.1345, on the hourly chart so far. Elsewhere, the greenback was under pressure in USD/JPY but bid flows in EUR/GBP and subsequently knocking cable of its perch has reinforced the downside in the major. The week will pick up for the pair with the German ZEW and both EZ and US CPI's. The US has a stream of other data including retails sales, industrial production and the beige book. These all will come under the markets microscope in respect of the looking FOMC meeting while we approach year end and the time value of the Fed's optimism and need for a rate hike is fading away, supporting the upside in EUR/USD. EUR/USD neutral/bearish near term ( below pivot 1.1370, positive MA's and daily momentum support) EUR/USD price action is softer and building a case of the downside as the momentum on the near term charts begin to fade. But we are some way away from anywhere technically bearish and the longer term charts offer reasonable momentum still on the bid. A key support comes as the 55 SMA at 1.1345, then 1.1323 ahead of 1.1280/94 that all guard the 20 DMA at 1.1251 ahead of the golden cross between the 50/200 DMA's at circa 1.1170. For more information, read our latest forex news.