EUR/USD - EUR/USD Bounced off 1.0500 Critical Level - 12/23/2016 (GMT)

One of the best performing currencies yesterday was the euro against the U.S. dollar, which rose until the 1.0500 strong psychological resistance level. The most traded currency manages to hit our suggested target at 1.0505 but stuck a few pips below it (see previous technical analysis here: http://bit.ly/2hW0llP). While the EUR/USD pair failed to surpass above the latter level had a rebound on it and fell slightly above its opening price. The pair rose more than 0.5% over the last two days, however, as this period is very quiet for the market, the common currency will continue developing sideways within the aforementioned psychological barrier and the 1.0352 support obstacle. The RSI indicator is pointing upwards while it is still moving in a negative territory. Also, the MACD indicator lies near its trigger line and below the zero line. Looking ahead to the coming year, we hope to sell rallies in the pair between 1.05 and 1.06.