FX.co ★ EUR/USD analysis for December 23 2020 - Contraction on the Early Europe session and potentiual for the breakout

The US government will pay $1.95 billion for the additional 100 million doses

The deal will include option for an additional 400 million doses, with Pfizer noting that they expect the whole initial 200 million doses to be delivered by 31 July 2021.

That's some additional good news on the vaccine front and for risk sentiment as well, which has been keeping steadier through European morning trade despite a hiccup on the US stimulus front with Trump having called to amend the virus relief bill.

Further Development

Analyzing the current trading chart of EURUSD, I found that there is contraction and trading range condition in last few hours, which is sign of indecision.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Ethanol and Orange Juice today and on the bottom Natural Gas and Oats.

Key Levels:

Resistances: 1,2200

Support levels: 1,2178