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- EUR/USD is trading near the lows of January 2017
EUR/USD is trading near the lows of January 2017
Today, the EUR/USD pair is trading in the range of $1.0490-1.530 and remains near the lows of January 2017. On the hourly chart, the pair remains below the moving average line of MA (200) H1 ($1.0645) and on the four-hour chart - significantly below MA (200) H4 ($1.0870). Technically speaking, the support of $1.0450-70 can keep prices from falling. The upper limit of $1.0645-55 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: $1.0595, $1.0645-55, $1.0740
⦁ Support levels are: $1.0450-70, $0340, $1.0300
The main scenario for promoting the pair — the support breakthrough is $0450-70 (January 11’ 2017 low, April 28 low) and there may be a decline to $0340 (January 3’ 2017 low)
An alternative scenario — if the resistance of $1.0595 (April 29 high) is broken, the pair may rise to $1.0645-55 (April 27, MA (200) H1 high)
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