Long-term looking we have no interest in buying this pair, despite this rebound, but e do bot expect that pair will go below 1.05 handle at the moment.
EUR/USD Weekly Forecast – 05 December – 09 December
It was a bit steadier week for euro, which was consolidating a bit after recent huge decline, being t traded between 1.0560 area as a bottom and 1.0680 level as a resistance. Next week we would pay attention to ECB interest rate decision. It seems that pair is currently rebounding at the moment, but major support at 1.07 and 1.08 handle could be quiet struggle at the moment. Pair is likely to find some amount of support around 1.0580 and 1.0550 handle in extension and resistance above 1.0750 and 1.08 area.
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