The euro is stabilizing. The unemployment rate in the euro area.

The single currency slows its decline against the US dollar, but still remains under pressure from the widespread strengthening of the US currency. Some deterrent to the further decline of the single currency is the decrease in the unemployment rate in the Eurozone, which in November was 8.7%, compared to the previous value of 8.8%.

Technical analysis. Since the beginning of the week, the pair EUR/USD has consolidated below the significant support of 1.2000, while breaking through the support line of the rising channel on H1. At the moment, the price has already worked out the previously formed figure “double top”, which is a signal of a possible reversal of the uptrend in the short term. At the moment, a significant support level is 1,1890. In the event of further price reduction and consolidation below the level of 1,1880, one should expect its further decrease to the levels of 1,1845, 1,1825. The main resistance levels are 1,1975, 1,2000.

Fig. EUR/USD. The current price is $ 1.1930.

Alexander Sivtsov