FX.co ★ EUR/USD analysis for December 09, 2022 - Potential for the the upside continuation

Technical analysis:

EUR/USD has been trading upside and the previous swing high at the price of 1.0590 is on the test. In case of the upside breakout of swing high, I see potential for the further rally.

Trading recommendation:

Due to the strong upside pressure in the background and buyers in control, I see potential for the further upside movement.

Watch for the potential buying opportunities in case of the upside breakout of the 1.0690.

Upside objective is set at the rice of 1.0750

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.0450