Today, the EUR/USD pair is trading in the range of $1.0810-45 - about a 5-week low. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.0920) and on the four-hour chart - below MA (200) H4 ($1.1005). Technically speaking, the support of $1.0805 can keep prices from further decline. The upper limit of $1.0920-40 represents the resistance level.
⦁ Resistance levels are: $1.0920-40, $1.0990, $1.1075
⦁ Support levels are: $1.0805-10, $0765-75, $1.0725
The main scenario for promoting the pair — the support breakthrough is $1.0805-10 (March 7 low, session minimum) and there may be a decline to $0765-75 (May 7 and 14’ 2020 lows)
An alternative scenario — the pair may grow to $1.0920-40 (April 6-7 and 11 highs, MA (200) H1)
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