EURUSD fluctuated and rose, and the technical bias was bearish due to lower highs in the recent downtrend.
The pair is currently trading near 1.21220, multiple resistance level can be seen above which may prevent the price from rising further.
- Resistance level 1: 1.21430
- Resistance level 2: 1.21640
- Resistance level 3: 1.21950
Below the price, multiple support levels can be seen which may precent the price from falling.
- Support level 1: 1.20950
- Support level 2: 1.20680
- Support level 3: 1.20150
Germany will announce the May inflation data today. Higher data will indicate favorable for the Euro, so it is bullish for the EURUSD currency pair and vice versa.
Looking at the current price trend and economic development, it may be a good trading choice to sell the EURUSD currency pair near the current level.