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- EUR / USD is trading near a more than four-month low
EUR / USD is trading near a more than four-month low
Today, the EUR / USD pair is trading in the range of $ 1.1705-25, having reached a minimum on March 31. On the hourly chart, the pair fell below the MA (200) H1 moving average line ($1.1815). The situation is similar on the four-hour chart. In this situation, it is probably worth sticking to the southern direction in trading, and you should look for exit points for sale. It is worth noting that a bullish divergence has formed on the hourly chart according to the MACD indicator, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: $1.1740, $1.1770, $1.1815
⦁ Support levels are: $1.1705, $1.1650, $1.1600
The main scenario for promoting the pair - a break of the session minimum to $1.1705 (March 31 low) and there may be a decline to $1.1650 (October 29’2020 low)
An alternative scenario - correction and there may be an increase in the pair to $1.1740 (August 10 high)
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