After an attempt to break above parity in late October, EURUSD returned below it last week and is now playing with this all-important level. The attempt for an upside breakout seems to still be ongoing, given the late Friday rebound and EURUSD now being again close to 1.00.

Still, there are further levels that need to be cleared for a successful breakout. For instance, the October high of 1.01 (also the 100-day SMA) is notable resistance, and this zone could again prove strong enough to hold the attempt. Above there, the 1.0350 and 1.05 zones are the next resistance zones based on the weekly chart.

To the downside, 0.97 is the important support now following last week’s rebound here. The next support is at 0.95.