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- EUR/USD is trading near a 2-week high
EUR/USD is trading near a 2-week high
Today, since the start of trading, the EUR/USD pair has grown from $1.1085 to $1.1160, reaching a 2-week high, but during the European session it slightly decreased to $1.1115. On the hourly chart, the pair has risen above the moving average line MA (200) H1 ($1.1020) and on the four-hour chart it is testing MA (200) H4 ($1.1115). Technically speaking, the resistance of $1.1275 may keep prices from rising further. The lower bound of $1020 represents the support level.
⦁ Resistance levels are: $1.1160, $1.1275, $1.1360
⦁ Support levels are: $1.1070, $1020, $1.0945
The main scenario for promoting the pair — breakout of the session high of $1.1160 and there may be an increase to $1.1275 (February 25 high)
An alternative scenario — correction and there may be a decline to $1.1070 (March 21 high, low of the US session March 29)
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