The EUR/USD price ended the month on a strong positive note while the year ended, paring losses partially. The pair looks buoyant, closing above the key moving averages on the daily chart.
The 50-day and 200-day moving averages have formed a bullish crossover. Meanwhile, the 50-day and 100-day moving averages made a bullish crossover earlier this week. The buyers may aim to test the recent highs around 1.0780.
However, it must be noted that the pair may lose its bullish momentum as we enter the new year. Since it rose from a multi-decade low, EUR/USD has not yet seen a corrective wave. The US NFP and ISM manufacturing data, due next week, can be crucial for the pair.
Key levels for EUR/USD
Support1: 1.0620
Support2: 1.0500
Support3: 1.0450
Resistance1: 1.0700
Resistance2: 1.0780
Resistance3: 1.0900
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