- EUR/USD: Resistance seen at 1.0690, support aligns at 1.0520 – OCBC
Market news
20 December 2022
EUR/USD: Resistance seen at 1.0690, support aligns at 1.0520 – OCBC
EUR/USD fluctuates in a tight range around 1.0600. Economists at OCBC Bank highlight the key technical levels to watch.
Rangebound trade still likely within trend channel
“Daily momentum is showing a mild bearish bias while RSI is flat.”
“Rangebound trade still likely within trend channel.”
“Resistance at 1.0690 (trend upper bound), 1.0750 levels (61.8% fibo retracement of 2022 high to low).”
“Support at 1.0520 (50% fibo), 1.0480 (21DMA) and 1.0340 (200DMA).”
See: EUR/USD has weakened every year in January, February and March since 2019 – SocGen
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