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- EUR / USD is trading near a ten-day high
EUR / USD is trading near a ten-day high
Today, the EUR / USD pair is trading in the range of $1.1795-1.1820-near a ten-day high. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.1770), but on the four-hour chart it remains well below MA (200) H4 ($1.1935). Technically speaking, a strong resistance level of $1.17830 may keep the pair from rising further. If it breaks through, prices can soar to $1.3810. The lower bound of $1.1770 represents the support level. If this level is passed, prices may follow a correction to $1.1700. The most likely range of price movement for today may be hidden within the range of $1.1770-1.1830
⦁ Resistance levels are: $1.1820-30, $1.1870, $1.1945
⦁ Support levels are: $1.1770, $1.1740, $1.1700
The main scenario for promoting the pair - correction and may be a decline to MA (200) H1 ($1.1770)
An alternative scenario - if the resistance of $1.1830 (March 25 high) is broken, the pair may rise to $1.1870 (March 19-22 low)
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