EUR/USD holds on to its latest gains amid prevalent risk-appetite

EUR/USD is trading around 1.2130, stable near its recent highs in thin holidays’ trading. The pair is technically neutral, with the risk skewed to the upside, Valeria Bednarik, Chief Analyst at FXStreet, informs.

Key quotes

“Over the weekend, the US Senate acquitted former President Donald Trump on his second impeachment, which means it´s now free to discuss the next stimulus package.”

“EUR/USD is developing below the 23.6% retracement of its November/January run in the 1.2170 price zone, the immediate resistance area. The pair is neutral according to the 4-hour chart, as it keeps developing between directionless moving averages. 

“Retracements towards the 1.2060 region are likely to attract buyers, instead of signaling a bearish movement ahead.”