FX.co ★ EUR/USD analysis for January 12 2021 - Potential for the another downside movement towards 1.2065

Latest data released by NFIB - 12 January 2021

• Prior 101.4

The headline reading falls to the lowest since May as economic sentiment is weighed down amid the health crisis worsening across the US. Despite vaccine optimism, current conditions are rather tough and that is a worry as evident by sentiment on the ground

Further Development

Analyzing the current trading chart of EUR/USD, I found that sellers are in control and tthere is the breakout of the rising trend line in the background.

I see potential for the further downside continuation and the test of 1,2065, which is the pivot low from the beginning of the rising trend line.

1-Day relative strength performance Finviz

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

Key Levels:

Resistance: 1,2180

Support levels: 1,2135 and 1,2065