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Today’s FOMC could push the Euro above 1.22 – EUR/USD Market Outlook – 16/12/2020

SquaredFinancial

The single currency is grinding higher towards the 2020 peak of 1.2177, as US government is nearing a fiscal stimulus deal. Risk-on sentiment boosted equities, pushing the Dollar Index to new 2020 lows. We remain bullish on the Euro, looking to buy any dips towards the 50-SMA targeting above 1.22. Today’s FOMC meeting could be the fundamental catalyst we were waiting for.

Support: 1.2080 / 1.2040
Resistance: 1.2180/ 1.2250

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/todays-fomc-could-push-the-euro-above-1-22-eur-usd-market-outlook-16-12-2020
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