FX.co ★ EUR/USD analysis for January 12, 2022 - Breakout of multi month consolidation to the upside

Technical analysis:

EUR/USD has been trading upside and there is the breakout of the key multi-month pivot resistance at the price of 1,1385.

Trading recommendation:

Due to the breakout of the key multi-month pivot resistance at the price of 1,1385, there is the chance for the bigger upside movement in the next period.

Watch for the buying opportunities on the pullbacks with the upside objectives at 1,1460, 1,1510 and 1,1595.

Key support level is set at 1,1385 (resistance became support)