- EUR/USD regains and advances to 1.2150.
- Markets' attention stays on the ECB meeting and EU Summit on Thursday.
The single currency appears to have revived following recent weakness and pushes EUR/USD to the 1.2150 region on Wednesday as the safe-haven dollar is under pressure. Markets awaits for US approval of a fiscal stimulus deal. Brexit and vaccine headlines are also in focus.
After three consecutive daily pullbacks, EUR/USD attempts a recovery to the mid-1.2100s and remains always supported by weekly lowsEuro/dollar is rising once again, this time with the Relative Strength Index around 55 – away from overbought conditions. EUR/USD is in a consolidation range band under 1.2150 and 1.2100.
Some resistance awaits at the daily high of 1.2150 round figure mark and followed by the 2020 peak of 1.2177. The round level of 1.22 is next, followed by 1.2250, a peak recorded in 2018.
Support awaits at 1.205, which was a swing low earlier in the week. It is followed by 1.2040, a stepping stone on the way up, and then by 1.2005.
