FX.co ★ EUR/USD analysis for December 22, 2022 - Key resistance at the price of 1.0660 is on the test

Technical analysis:

EUR/USD has been trading on the key resistance at the price of 1.0650. There is potential for the downside rotation.

Trading recommendation:

Due to the strong resistance is cluster and rejection, I see potential for the further downside movement towards lower references.

Watch for the potential selling opportunities with the downside objective at 1.0600.

Stochastic is showing overbought condition and fresh bear cross, which is good sign for further downside movement.

In case of the breakout of resistance at 1.0660, there is potential for further growth towards 1.0700