The number of Covid-19 cases is growing rapidly in the US and the government is concerned over the issue with the vaccine and the catastrophic influence of the virus on the economy. EUR is not getting any support from the economic reports in Eurozone as the unemployment rate is rising.
The support rests at 1.20460 with resistance at 1.21220. The weekly pivot point is located below the lines at 1.19080. The Stochastic is showing upward momentum, the RSI is moving in overbought area and the ADX is showing buy signal. The MACD indicator is in positive territory.
The support level breakthrough will confirm the bearish trend towards 1.19900; otherwise, EURUSD will continue its growth towards 1.21500.
