EUR/USD Weekly Analysis – Saturday, Dec. 1

EUR/USD moved sideways in a trading range between 1.1215 and 1.1500. As long as 1.1500 resistance holds, the downside movement from 1.1815 could be expected to resume and a breakdown below 1.1215 support could trigger further downside movement towards 1.1100.

On the upside, a breakout of 1.1500 would suggest that the downside movement had completed at 1.1215 already, then the pair would find the next resistance level at around 1.1700.

EURUSD daily chart

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