EURUSD Wave Analysis – 7 January, 2022

• EURUSD reversed from key support level 1.1265

• Likely to rise to resistance level 1.1380

EURUSD currency pair recently reversed up from the key support level 1.1265 (lower boundary of the sideways price range from the middle of December).

The upward reversal from the support level 1.1265 started the active short-term impulse waves C.

Given the rising euro bullishness seen today – EURUSD currency pair can be expected to rise further toward the next resistance level 1.1380 (upper boundary of the aforementioned sideways price range).