FX.co ★ EUR/USD analysis for December 26, 2022 - Potential for the breakout of the trading range

Technical analysis:

EUR/USD has been trading sideways at the price of 1.0622and I see potential for the breakout play.

Trading recommendation:

Due to the sideways condition and well defined trading range, I see potential for the breakout play.

In case of the breakout and hold above the resistance at 1.0655, watch for buying opportunities with the upside objective at 1.0720

In case of the breakout of the support at 1.5075, watch for selling opportunities with the downside objective at 1.0512