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- The EUR / USD pair fell to a two-week low
The EUR / USD pair fell to a two-week low
Today, the EUR / USD pair continues the decline that began at the end of last week, and fell to a two-week low of $1.2020. On the hourly chart, EUR / USD fell below the moving average of MA (200) H1 ($1.2220). On the four-hour chart, the situation is similar. Technically speaking, a strong support level of $1.2020 may keep prices from falling further. If it breaks through, the pair may fall to $1.1950. MA (200) H1 ($1.2220) represents the resistance level. The most likely range of price movement for today may be hidden within the existing range of $1.2020-$1.2220
⦁ Resistance levels are: $1.2120, $1.2180, $1.2240
⦁ Support levels are: $1.2020, $1.1950, $1.1920
The main scenario for promoting the pair - breakout of the support $1.2020 (February 17 low) and may be a decline to $1.1950 (February 5 low)
An alternative scenario - correction and may be an increase to MA (200) H1 ($1.2220)
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