Current
After Friday’s close at around $1.0534, the currency pair was rather weak on Monday morning, falling by around 0.2%. Today, the share price has so far moved only slightly upwards by around 0.1%. In the medium-term upward trend, the share price on 05.12. marked an interim high of almost $1.06. With the current movement, the price continues to be bullish, but the upward movement is already weakening slightly. The reason for this is likely to be the defensive stance of investors due to the upcoming economic figures from the USA.
Outlook
On the daily chart, the upward trend has continued in the current week. A short-term relevant horizontal support has been established in the area around $1.0444. The next important resistance is in the area of $1.0621. If the price continues to stay above and respect the support, this can be interpreted as a bullish signal and we could see another rise above the last short-term high at $1.06. However, if the support is broken, we could see a downside move to the next support at $1.0393. Otherwise, there is a possibility of a sideways movement, where the price could continue to stay in the $1.0545 area.
EURUSD D1
