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- Technical Analysis
- EUR / USD is trading near a two-month low
EUR / USD is trading near a two-month low
Today, the EUR/USD pair is trading in the range of $1.1635-85 - about a two-month low. The pair settled below the moving average line MA (200) H1 ($1.1775) and on the four - hour chart-below MA (200) H1 ($1.1825). Yesterday's low of $1.1625 may deter further declines. If it breaks through, the price may fall to $1.1580. The session high of $1.1685 represents the resistance level. If it is passed, then the pair may be followed by a correction to $1.1720. The most likely range of price movement today may be hidden within the range of $1.1580-1.1685.
⦁ Resistance levels are at: $1.1685, $1.1720, $1.1775
⦁ Support levels are at: $1.1625, $1.1580, $1.1505
The main scenario for promoting the pair - a break of yesterday's low of $1.1625 and then a possible decline of the pair to $1.1580 (July 24 low)
An alternative scenario - break the session high of $1.1685 (August 24 high) and then the pair may grow to $1.1720 (September 23 high)
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