- Analytics
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- Technical Analysis
- The EUR / USD pair is trading near a three-week low
The EUR / USD pair is trading near a three-week low
Today, the EUR / USD pair is trading in the range of $1.2135-70 - near the three-week low ($1.2130) reached earlier on January 11. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.2230), and on the four-hour chart it is testing MA (200) H4 ($1.2165). Technically speaking, a strong support level of $1.2130 could keep EUR / USD from falling further. If it breaks through, the price may fall to $1.2105. The most likely range of movement of the pair for today can be hidden within the existing range of $1.2130-70.
⦁ Resistance levels are: $1.2170, $1.2220-30, $1.2285
⦁ Support levels are: $1.2130, $1.2105, $1.2060
The main scenario for promoting the pair - breakout of the session high of $1.2170 and, perhaps, the pair's growth to $1.2220-30 (January 13 high, MA (200) H1)
An alternative scenario - breakout of support at $1.2130 (December 21 and January 11 low) and may be a decline to $1.2105 (December 11 low).
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