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- EUR/USD is trading near a 3-month low.
EUR/USD is trading near a 3-month low.
Today, EUR/USD is mostly down from 1.0770 to 1.0715, losing the gains made yesterday. The pair is trading near the 3-month low of 1.0685 reached last week. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0760) and on the four-hour chart it has consolidated below the MA (200) H4 (1.0880). Technically speaking, the support level of 1.0670 may keep prices from further decline. In case of its breakdown, prices may fall to 1.0635. The upper boundary of 1.0810 represents a resistance level.
⦁ Resistance levels are: 1.0770, 1 0810, 1.0880
⦁ Support levels are: 1.0670-85, 1.0635, 1.0550
The main scenario for the pair suggests a break of support at 1.0670-85 (July 6-7 and Sept 7 lows) and a possible decline to 1.0635 (May 31 low)
The alternative scenario implies a break of the session high of 1.0770 and maybe a rise to 1.0810 (Sept 4 high)
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