EUR/USD’s speedy bias is impartial, with the alternate fee locked within the vary of 1.2081-1.2149 outlined by Friday’s low and Thursday’s excessive.
Friday’s low of 1.2081 is the extent the place sellers ran out of steam, permitting the bulls to push the pair again to ranges above 1.21. In the meantime, the bulls confronted rejection at 1.2149 on Thursday.
As such, 1.2081 is the extent to defend for the bulls, and 1.2149 is the extent to guard for the sellers. A transfer beneath the previous would suggest a bearish breakdown and shift threat in favor of a drop towards 1.2050. Alternatively, a breakout above 1.2149 would open the doorways for an extension of the earlier week’s rally towards 1.2349 (Jan. 6 excessive).
Each day chart