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Chart Of The Day: EUR/USD

By Blake Morrow ForexJan 12, 2022 06:19PM ET
www.investing.com/analysis/chart-of-the-day-eurusd-200614551
Chart Of The Day: EUR/USD
By Blake Morrow   |  Jan 12, 2022 06:19PM ET
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EUR/USD Daily Chart.
EUR/USD Daily Chart.

Today's broad-based U.S. dollar weakness allowed EUR/USD to break its 1.5-month consolidation higher. In doing so, the pair broke the 114.25 trend line that has held the downtrend since summer of 2021. Technicians will be watching the pair and how it closes the week. If it closes above or below the 114.25 level will be key. A move higher could allow for a move back to the 1.1635 38% retracement of the 2021 range or the 117.00 level, which was the support from March of 2021. 

Chart Of The Day: EUR/USD
 

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Chart Of The Day: EUR/USD

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