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- Technical Analysis
- EUR/USD has risen to a one-week high.
EUR/USD has risen to a one-week high.
The EUR/USD pair is mostly rising from 1.0555 to 1.0610 today, reaching a weekly high. On the hourly chart, the pair rose slightly above the H1 MA (200) H1 moving average line (1.0530), but remains below the H4 MA (200) H4 (1.0675) on the four-hour chart. Technically speaking, the strong resistance level at 1.0615 may keep prices from rising further. In case of its breakdown, the pair may rise to 1.0675. The lower boundary of 1.0520 represents a strong support level.
⦁ Resistance levels are: 1.0615, 1 0675, 1.0740
⦁ Support levels are: 1.0555, 1.0520, 1.0480
The main scenario for the pair suggests a break of the session low of 1.0555 and maybe a decline to 1.0520 (Oct 9 low).
The alternative scenario implies a rise to 1.0615 (Sept 29 high) and then, maybe, to 1.0675 (Sept 21-22 high).
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