FX.co ★ Technical analysis EUR/USD for February 16, 2021

Ideally EUR/USD will stay below short-term key-resistance at 1.2155 for a break below support at 1.2079 that will confirm renewed downside pressure towards 1.1966 and 1.1692 as the next downside target.

An unexpected break above short-term key resistance will add considerable pressure on the USD for a return to 1.2349 and possibly even closer to 1.2457 before lower again.

The lack of upside momentum from the RSI indicates the odds for a break below short-term support at 1.2079 is greater than the possibility of a break above key-resistance at 1.2155, but at this point is still can't be excluded.

Trading recommendation:

Sell a break below support at 1.2079 or buy a break above resistance at 1.2155.