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Short-term technical analysis on EURUSD for January 2nd, 2022.


Black lines- support trend lines

Green line -resistance (broken)

EURUSD is trading around 1.0680 after breaking last week above the short-term resistance 1.0660. Price back tested the break out level and has now started making higher highs and higher lows in the 4 hour chart. Short-term support is at 1.0660 where previously resistance was. Price has the potential to continue higher as long as we stay above 1.0660-1.0650. Key support remains at 1.0570. A break below 1.0650 would be a bearish sign, but the confirmation will come with a break below 1.0570. Until then bulls are in control.

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