On December 1st 2020 price broke through this level which was acting as strong resistance! Price has not since come down to re test this level as support which i think price is on its way to do now. More than likely when such a strong level like this does break we will get a retest of that level before a bigger move in the direction of the break.
Personally i wouldn't sell down to this level but would wait to see if price does reach 1.20000 before placing the buy, just be patient! Jumping into a trade in no mans land is never a good idea at all.
USD is doomed and will only get weaker as they print more money! For this reason i am in a fair few USD sell swing trade positions.
If you would like to know more about the way i trade then come have a chat and i will be happy to help you!