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- The EUR / USD pair rose, but remains below the MA (200) H1
The EUR / USD pair rose, but remains below the MA (200) H1
Today, the EUR / USD pair is trading with an increase from $1.1640 to $1.1720, retreating from the five-week low of $1.1620 reached yesterday. On the hourly chart, the pair remains below the MA (200) H1 moving average line ($1.1750). Technically speaking, a strong resistance level of $1.1750-60 may keep EUR / USD from rising further. If this level is broken, the pair may soar to $1.1840. The lower limit of $1.1620 represents the support level. The most likely range of movement in oil prices today may be hidden within the existing range of $1.1620-1.1760.
⦁ Resistance levels are at: $1.1750-60, $1.1840, $1.1880
⦁ Support levels are at: $1.1610-20, $1.1540, $1.1505
The main scenario for promoting the pair - correction and possible decline to $1.1610-20 (September 25 and November 2 lows)
An alternative scenario - if the resistance of $1.1750-60 is broken (October 29 high, MA (200) H1), then the pair is likely to grow to $1.1840 (October 27 high, MA (200) H1)
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