The Euro Finds a Good Support Ground 13/12/2021

The single European currency found a solid support floor around the main key published in the previous analysis, at 1.1260,

Technically, the pair’s movements are witnessing stability above 1.1260, and the simple moving averages returned to hold the price from below, accompanied by some positive signs from the stochastic indicator.

With intraday trading remaining above 1.1260, we may witness a little bullish bias targeting a retest of 1.1350, considering that the breach to the upside 1.1350 is a catalyst that consolidates the euro’s gains to retest the supply area 1.1380.

Note: The price behavior must be monitored well if 1.1385/1.1380 is touched due to its importance to the general trend in the short term, and if the pair fails to breach it and return below 1.1260, this will lead the euro to resume the official descending path to be 1.1200 the first price target and extend later towards 1.1175.

S1: 1.1260	R1: 1.1350
S2: 1.1210	R2: 1.1385
S3: 1.1175	R3: 1.1430