FX.co ★ EUR/USD analysis for November 23 2020 - Potential for the dowsnide rotation towards the 1.1850

Latest data released by the SNB - 23 November 2020

• Domestic sight deposits CHF 643.3 bn vs CHF 644.5 bn prior

Overall sight deposits actually fell in the past week as it seems the recent push and pull in the market amid vaccine optimism is seeing less incentive for the SNB to step into the market.

Further Development

Analyzing the current trading chart of EUR/USD, I found that EUR got rejected of the main resistance at 1,1920 and that we might see downside rotation.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Natural Gas and Lean Hogs today and on the bottom VIX and Platinum.

Key Levels:

Resistance: 1,1920

Support level: 1,1850