Daily technical analysis 12.18.2020

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  • Post category:Forex

EUR/USD Current level – 1.2258

The dollar continues to depreciate, with the single European currency trying to breach the resistance level at 1.2300, albeit unsuccessfully. The bears managed to hold their ground and limited the appreciation of the euro to just below 1.2270. However, the sentiments remains positive – for overcoming the mentioned resistance and for a test of the next level at around 1.2400, followed by a move towards 1.2500. During the last trading session for this week, no economic news that would cause significant market fluctuations are present in the economic calendar. However, investors are still focused on the U.S. government’s decision to provide additional fiscal stimulus.

resistance
intradayintraweek
1.23001.2400
1.23401.2500
support
intradayintraweek
1.21741.2082
1.21371.1988