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- EUR/USD is trading near a 2-week high
EUR/USD is trading near a 2-week high
Today, the EUR/USD pair is mainly growing from $1.0735 to $1.0790, again reaching a 2-week high of $1.0790. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($1.0720). On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.0850). Technically speaking, the resistance of $1.0800 may keep prices from rising further. The lower bound of $1.0670 represents a strong support level.
⦁ Resistance levels are: $1.0800, $1.0830, $1.0875
⦁ Support levels are: $1.0720, $1.0670, $1.0635
The main scenario involves a breakthrough of the MA (200) H1 ($1.0720) and it may go down to $1.0670 (June 6-7 low).
An alternative scenario implies a breakout of the resistance of $1.0800 (May 24 high) and there may be an increase to $1.0830 (May 22 high)
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