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- EUR / USD is trading near the highest value since the beginning of the month
EUR / USD is trading near the highest value since the beginning of the month
Today, the EUR / USD pair is trading in the range of $1.2110-40-near the maximum value since the beginning of the month and above the MA (200) H1 moving average line ($1.2055). On the four-hour chart, the pair remains below MA (200) H4 ($1.2155). Technically speaking, a strong resistance level of $1.2155 may keep prices from rising further. If it breaks through, the pair can soar to $1.2190. The $1.2045-55 area represents the support level. If this level is passed, the price may follow a correction to $1.2005. The most likely range of oil price movement for today may be hidden within the range of $1.2045-$1.2155.
⦁ Resistance levels are: $1.2155, $1.2190, $1.2220
⦁ Support levels are: $1.2045-55, $1.2005, $1.1950
The main scenario for promoting the pair - correction and may be a decline to $1.2045-55 (February 9 low, MA (200) H1)
An alternative scenario - continuation of the upward movement to $1.2155 (January 29 high) and may be an increase to $1.2190 (January 22 high)
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