Current
Until the close at around $1.0675, the currency pair showed some strength again on Monday, rising about 0.2%. Today, the share price has so far moved slightly further upwards by around 0.3%. In the medium-term upward trend, the share price on Dec. 15. marked an interim high of almost $1.0740. With the current movement, the price continues to be bullish, but the upward movement is already weakening slightly. However, after a slight downward movement before the weekend, the EUR/USD started the week before Christmas on a positive note.
Outlook
For the time being, the chart situation in the daily chart has not changed in the current week. A short-term relevant horizontal support has been established in the area around $1.0583. The next important resistance is located in the area of $1.0764. 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 around $1.075. However, if the support is broken, we could see a downside move to the next support at $1.0530. Otherwise, there is a possibility of a sideways movement where the price could continue to stay in the $1.0620 to $1.0660 range.
