The euro currency faces an important week ahead against the US dollar, as the pair could either reverse sharply or move into a major new bull cycle going into 2021. A break above the 1.2330 area could propel the EURUSD pair towards the benchmark 1.2500 level. To the downside, a reversal from current levels could see the EURUSD testing towards the 1.1900 handle.
The EURUSD pair is only bearish while trading below the 1.2050 level, key support is found at the 1.1960 and 1.1900 levels.
The EURUSD pair is only bullish while trading above the 1.2050 level, key resistance is found at the 1.2330 and 1.2450 levels.
