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- EUR / USD is trading near a two-week high
EUR / USD is trading near a two-week high
Today, the EUR / USD pair is trading in the range of $1.2115-45-slightly below the two-week high of $1.2150, reached on Thursday. On the hourly chart, the pair is trading above the moving average line MA (200) H1 ($1.2070), but on the four-hour chart it remains slightly below MA (200) H4 ($1.2150). Technically speaking, the strong resistance level of $1.2155 keeps prices from rising further. The lower bound of $1.2070-80 represents the support level.
⦁ Resistance levels are: $1.2150-55, $1.2190, $1.2220
⦁ Support levels are: $1.2070-80, $1.2020, $1.1950
The main scenario for promoting the pair - growth to the area of $1.2150-55 (January 29 and February 11 highs) and then may be to $1.2190 (January 22 high)
An alternative scenario - correction, decline to $1.2070-80 (February 12 low, MA (200) H1) and then, maybe, to $1.2020 (February 8 low)
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