EUR/USD is rising toward 1.21 as US jobless claims disappointed with a leap to 861,000. US Treasury yields are off the highs. News about fiscal stimulus is awaited.
Should the pair manage to strengthen its positive momentum, the next resistance could come around the 1.2090 previous support breakout point barrier. A break above this level would drive the market until the next barrier at 1.2015. Above this level, the next target could come in the 1.22 psychological round figure mark.
However, if traders are unable to send prices higher in the next few sessions, the risk would shift back to the downside at 1.2030 previous swing low before the focus turns to 1.1960, registered in February 5. The next key support to watch lower down is 1.1915, taken from the inside swing high in November 2020.
