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- EUR/USD remains near the highs of February 2022
EUR/USD remains near the highs of February 2022
Today, the EUR/USD pair is trading in the range of 1.1190-1.1240, staying near the end-February 2022 high of 1.1275 reached yesterday. On the hourly chart, the pair is above the MA (200) H1 moving average line (1.1115). On the four-hour chart, EUR/USD remains above the MA (200) H4 (1.0920). In this situation, the scenario of further growth of EUR/USD is likely. Finding a buy position may be a wise decision for those who want to take advantage of a stronger euro.
However, it is worth noting that a bearish divergence on the MACD indicator has formed on the hourly chart, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: 1.1275, 1.1360, 1.1420
⦁ Support levels are: 1.1195, 1.1115-30, 1.0975
The main scenario for the pair suggests a break of resistance at 1.1275 (Feb 27’ 2022 high and July 18 high) and there could be a rise to 1.1360 (Feb 23’ 2022 high).
The alternative scenario implies a breakout of the session low of 1.1195 and there could be a decline to 1.1115-30 (July 13 low, MA (200) H1).
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