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- EUR/USD is trading near a 3-week high
EUR/USD is trading near a 3-week high
Today, the EUR/USD pair is mainly growing from $1.0770 to $1.0810 and is trading near the 3-week high of $1.0825 reached yesterday. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($1.0740). On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.0835). Technically speaking, the resistance of $1.0825-30 may keep prices from further growth. The lower bound of $1.0730 represents a strong support level.
⦁ Resistance levels are: $1.0825-30, $1.0875, $1.0905
⦁ Support levels are: $1.0785, $1.0730-40, $1.0670
The main scenario of the pair's promotion assumes a breakout of the session minimum of $1.0785 and there may be a decline to $1.0730-40 (June 12 low, MA (200) H1)
An alternative scenario implies a breakout of the resistance of $1.0825-30 (May 19-22 and June 13 highs) and there may be an increase to $1.0875 (May 17 high)
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