EUR/USD stays within a touching distance of 1.1300 -

EUR/USD stays within a touching distance of 1.1300

December 19, 2021

EUR/USD came under renewed bearish pressure during the European trading hours and extended its slide in the early American session toward 1.1300. The risk-averse market environment ahead of the weekend is helping the greenback stay resilient against its major rivals.

EUR/USD reached the 200-period SMA on the four-hour chart for the first time since early November on Thursday but lost its traction near that level at 1.1360. In case a four-hour candle closes above that level, we could see additional gains toward 1.1380 (static level) and 1.1400 (psychological level) afterwards.

On the downside, 1.1300 (psychological level, 20-period SMA, 50-period SMA, 100-period SMA) aligns as key support before 1.1240 (static level).

In the meantime, the Relative Strength Index (RSI) indicator is holding near 60, suggesting that sellers show no interest for the time being.