Today we will take a closer look at recent developments in the EUR/USD.
The EUR/USD continued its rise from the previous trading session this Monday. Today, the market rose 0.32% to mark a high of 1.2169. Currently, the price is just below that at 1.2159.
Last Tuesday, the market had failed in this very area at the strong resistance at 1.2157. Similarly, the market failed to reach this level on January 22, 2021.
If the resistance at 1.2157 can be overcome sustainably in the next few days, then prices at 1.2271 seem very realistic. If the EUR/USD fails here again, it could head towards the 1.2080 level.