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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 within yesterday's range of $1.2110-45-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 ($1.2150). 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 lower bound of $1.2110 represents the support level. If this level is passed, the price may follow a correction to $1.2045-55. The most likely range of oil price movement for today may be hidden within the range of $1.2110-55.
⦁ Resistance levels are: $1.2145-55, $1.2190, $1.2220
⦁ Support levels are: $1.2110, $1.2045-55, $1.2005
The main scenario for promoting the pair - breakout of the area $1.2145-55 (January 29 and February 10 highs) and may be an increase to $1.2190 (January 22 high)
An alternative scenario - breakout of yesterday's low of $1.2110 and may be a decline to $1.2045-55 (February 9 low, MA (200) H1)
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