EUR/USD Lingers Near Key Support
| Dec 03, 2021 07:21AM ET
Looking at EUR/USD chart, we can see the quick climb from 1.123 to 1.132 on Nov. 27 and a correction the next day causing the return to 1.126, which held twice its ground, claiming it as support on the Nov. 30.
It surged from the support at 1.126 to 1.138, before dropping to 1.126 on Dec. 1 down, erasing all the previous gains.
Nonetheless, it managed to climb up to the 1.132 price range, where it consolidated the past few days, having problems breaching the 1.135 overhead resistance level.
It is currently trading at the 1.128 price range, having its closest support level at 1.126.
Today, we could expect an attempt to move closer to the 1.126 support level due to the correction on Dec. 1, which may have spiked negative short-term momentum.
However, if it manages to hold on to the current level, then a move towards the 1.134 resistance level can be expected.
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