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- EUR / USD is trading near a one-month low
EUR / USD is trading near a one-month low
Today, the EUR / USD pair fell from $1.2160 to $1.2220 and is trading near a one-month low. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.2215), and on the four-hour chart - below MA (200) H4 ($1.2170). Technically speaking, a strong support level of $1.2105 could keep EUR / USD from falling further. If it breaks through, the price may fall to $1.2060. Yesterday's high represents a resistance level. If this level is passed, the pair may follow a correction to $1.2215-20. The most likely range of movement of the pair for today can be hidden within the range of $1.2105-80.
hin the existing range of $1.2215-20. The most likely range of movement of the pair for today can be hidden within the range of $1.2105-80.
⦁ Resistance levels are: $1.2180, $1.2215-20, $1.2285
⦁ Support levels are: $1.2105-10, $1.2060, $1.2000
The main scenario for promoting the pair - breakout of the support of $1.2105-10 (December 11 and January 14 lows) and, perhaps, a decline in the pair to $1.2060 (December 9 low)
An alternative scenario - breakout of the resistance is $1.2180 (January 14 high) and there may be an increase in the pair to $1.2215-20 (January 13 high, MA (200) H1)
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