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- EUR / USD traded around a 5-week high
EUR / USD traded around a 5-week high
Today, the EUR/USD pair trades in the range of 1.0720-60 field of sharp growth on Friday to the 5-week high. The pair broke through the resistance of 1.0695, which became the nearest support. On the hour chart, the pair rose above the line of moving average MA (200) H1 (1.0600). On the four-hour chart, the situation is similar. Technically speaking, a strong resistance level of 1.0770 can keep prices from rising further. In case of its penetration, the pair may rise to 1.0885. The lower boundary of 1.0520 represents a strong level of support.
⦁ Resistance levels are: 1.0770, 1 0885, 1.0945
⦁ Support levels are: 1.0695, 1.0600, 1.0520
The main scenario of the pair’s promotion presupposes a breakthrough of resistance of 1.0770 (Sept 12 high) and may be growth to 1.0885 (Sept 4 high).
The alternative scenario implies a decrease by 1.0695 (Oct 24 high) and MA (200) H1 (1.0600) and so maybe to 1.0620 (Nov 1 low).
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