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- The EUR/USD is trading near a 6-week high
The EUR/USD is trading near a 6-week high
Yesterday the EUR/USD traded higher and closed the day in the positive territory around $1.0945. Today it was trading in a narrow range of $1.0935-50, staying close to a 6-week high. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 ($1.0770). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: $1.0950, $1.0995-05, $1.1030
Support levels are at: $1.0860, $1.0800-15, $1.0775
Probably, the main scenario is continued growth towards $1.0950 (Jun 15 high).
The alternative scenario is consolidation below the MA 200 H1, followed by a fall to $1.0665 (Jun 1 low).
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