EUR/USD Daily Forecast – Support At 1.1300 In Sight

EUR/USD is moving lower in the last trading session of 2021.U.S. Dollar Gains Ground Against Euro

EUR/USD is slowly moving towards the support level at 1.1300 while U.S. dollar is gaining ground against a broad basket of currencies.The U.S. Dollar Index has once again managed to get back above the 96 level and is trying to develop additional upside momentum. In case this attempt is successful, it will get to the test of the resistance at 96.25 which will be bearish for EUR/USD.

Technical Analysis.EUR/USD declined below the 20 EMA at 1.1315 and is trying to get to the test of the support at 1.1300. In case EUR/USD manages to settle below the support level at 1.1300, it will gain additional downside momentum and move towards the next support at 1.1270.

A move below the support at 1.1270 will push EUR/USD towards the support at 1.1230. If EUR/USD gets below this level, it will head towards the support at 1.1200.On the upside, EUR/USD needs to get back above the 20 EMA to have a chance to gain upside momentum in the near term. If EUR/USD gets above this level, it will head towards the resistance at 1.1330. A successful test of the resistance at 1.1330 will push EUR/USD towards the next resistance level at 1.1350.

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