- Analytics
- Market analysis
- Technical Analysis
- EUR/USD is trading near a 5-year low.
EUR/USD is trading near a 5-year low.
Today, the EUR/USD pair is trading mainly with a decline from $1.0655 to $1.0585, having reached a new 5-year low. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.0780) and on the four-hour chart - below MA (200) H4 ($1.0955). Technically speaking, the support of $1.0570-85 may keep prices from further decline. The upper limit of $1.0740 represents the resistance level.
It is worth noting that the 14-day relative strength index (RSI (14) on D1) is below the level of 30, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: $1.0655, $1.0740, $1.0815
⦁ Support levels are: $1.0570-85, $0525, $1.0490
The main scenario for promoting the pair — support breakthrough of $1.0570-85 (April 10-12’ 2017 lows, session low) and there may be a decline to $0525 (March 9’ 2017 low)
An alternative scenario — there may be an increase in the pair to $1.0740 (April 26 high)
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