EURUSD recently reversed up from the key support level 1.20600 (which reversed the previous minor correctio (iv) at the start of December, as can be seen below), lower daily Bollinger Band, 50-day moving average and the 38.2% Fibonacci correction level of the previous upward impulse wave 1 from the start of November. The upward reversal from the support level 1.20600 started the active impulse wave 3. Given the clear daily uptrend and the rising euro sentiment seen across the FX markets today – EURUSD currency pair is expected to rise further toward the next resistance level 1.22000 (top of the minor correction (b) from the start of January).