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- EUR/USD is trading near 2-week high.
EUR/USD is trading near 2-week high.
Today, the EUR/USD pair is trading in the range of 1.0615-40 - near the 2-week high. On the hourly chart, the pair moved above the MA (200) H1 moving average line (1.0545), but on the four-hour chart it remains below the MA (200) H4 (1.0660). Technically speaking, the strong resistance level at 1.0670 may keep prices from rising further. In case of its breakdown, the pair may rise to 1.0740. The lower boundary of 1.0520 represents a strong support level.
⦁ Resistance levels are: 1.0640, 1 0675, 1.0740
⦁ Support levels are: 1.0580, 1.0545-55, 1.0520
The main scenario for the pair suggests a decline to 1.0580 (Oct 11 low) and there could be a decline to 1.0545-55 (Oct 10 low, MA (200) H1).
The alternative scenario implies a breakout of the session high of 1.0640 and maybe a rise to 1.0675 (Sept 21-22 high)
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