- Euro erases much of the day’s losses against the dollar.
- Day with limited tours on Tuesday, no significant changes.
He EUR / USD is trading just in negative territory on Tuesday, away from Monday’s low and holding above 1.2200. In European hours, the price fell to 1.2203, marking a low for the day and then rebounded to the 1.2235 area, where it is operating.
The advance occurs before a certain calm in the markets, different from the high volatility session on Monday. The approval of the new package of fiscal stimulus in the US and the progress made by the Brexi, although it remains for an agreement.
Most of the crosses do not register large variations compared to yesterday’s close. Looking ahead to the next few hours, what happens in the equity markets is expected to influence. In the US, GDP growth data for the third quarter, the existing home sales report for October and consumer confidence data for December will be released.
From a technical point of view, the EUR / USD is with the bullish moment in the very short term, stabilizing just above the 20-hour moving average (1.2230), soon facing the 1.2235 / 40 area. Then quickly the high of Monday will appear at 1.2250 and then already the path for the peak of 2020 at 1.2270 / 75. A return below 1.2220 would expose the 1.2200 zone, which if broken would increase the bearish tone. The next strong support is seen at 1.2170 and 1.2125 / 30.
Technical levels
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