EUR/USD Technical Analysis At Year-End: 1.0607 is very likely to be broken

The price is located below 100 SMA and below 200 SMA for primary bearish market condition for the ranging within the following key support/resistance levels:

• 1.1956 resistance located near and below 100 SMA/200 SMA. If the price breaks this level from below to above so the reversal of the price from the primary bearish to the primary bullish market condition may be started.
• 1.0607 support level located far below 100 SMA/200 SMA in the primary bearish area of the chart. If the price breaks this level so the bearish trend will be continuing with 1.0461 as the next bearish target.
  

100 SMA indicator is located below 200 SMA estimating the downtrend to be continuing by direction.

Thus, the most likely scenario for EUR/USD at year-end situation is the following: the price will be on bearish condition with the ranging within key levels, and 1.0607 support is very likely to be broken in the end of this year.