EURUSD Technical Analysis: Breaking 1.13 Support
currency pair, for example, it fell during yesterday's trading to the 1.1273 support level, and quickly rebounded upwards to reach the 1.1368 resistance level. It is stable around the 1.1340 level at the time of writing, ahead of the announcement of the latest data affecting investor sentiment.
France has reported nearly 180,000 new cases of COVID-19, a daily record, and is preparing for the number to continue to rise, with forecasts warning of more than 250,000 possible daily infections by January. France has vaccinated more than 75% of its population and is speeding up its use of booster shots, but more than 4 million adults in the country remain unvaccinated.
The government wants the vaccine permit requirement to be in effect by mid-January. If approved by Parliament, the plan means that unvaccinated people will not be able to use negative test results to visit places that require a permit. Germany's health minister said the country's coronavirus infection rate is likely to be two to three times higher than statistics currently show, and urged his citizens to exercise caution during New Year's celebrations. Yesterday, German official data showed 4,043 new cases were reported in the past 24 hours and an infection rate of 205.5 new cases per 100,000 residents over the past seven days.
The currency pair will react to investors' appetite for risk, as well as the Spanish CPI reading, then the US weekly jobless claims and the Chicago PMI reading.
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