EURUSD Price Analysis – December 20
The bearish momentum is getting weak and EURUSD price may reverse at the support level of $1.1206. Should the level of $1.1206 is defended by the bulls, the price may reverse and face resistance level of $1.1295 and $1.1375.The breakdown of $1.1206 level will expose the price to $1.1103 and $1.1025 level
Key levels:
Supply levels: $1.1295, $1.1375, $1.1432
Demand levels: $1.1206, $1.1103, $1.1025
EURUSD Long-term trend: Bearish
EURUSD is bearish on the long term outlook. Bears are still prevailing over the bulls in the EURUSD market. Bulls are trying to push up the price when the support level of $1.1206 holds but bears are opposing the movement. Last week, the currency pair experienced a ranging movement within the $1.1395 and $1.1206 levels. There was a partial breakout at $1.1295 resistance level on 16 December but the bears interrupted the movement.
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