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- The EUR/USD is trading near the February 2022 highs
The EUR/USD is trading near the February 2022 highs
On Friday, the EUR/USD traded in different directions in the range of $1.1205-45 and closed the day without significant changes. Today it was also trading in a tight range of $1.1215-30, staying close to the February 2022 highs. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 ($1.1010). 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 as long as 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: $1.1245, $1.1275, $1.1360-65
Support levels are at: $1.1185, $1.1130, $1.1090
Probably, the main scenario is continued growth towards $1.1245 (Jul 14 high).
The alternative scenario is consolidation below MA 200 H1, followed by fall to $1.0835 (Jul 6 low).
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