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- EUR/USD is trading near the 10-week high.
EUR/USD is trading near the 10-week high.
Today, EUR/USD is trading in the range of 1.0845-85 - near the 10-week high of 1.0890 reached yesterday. On the hourly chart, the pair moved above the MA (200) H1 moving average line (1.0720) and on the four-hour chart above the MA (200) H4 (1.0600). Technically speaking, the resistance level at 1.0890 may keep prices from rising further. In case it is broken, the pair may rise to 1.0845. The lower boundary of 1.0690 represents a strong support level.
⦁ Resistance levels are: 1.0890, 1.0945, 1 1005
⦁ Support levels are: 1.0760, 1.0690, 1.0655
The main scenario for the pair suggests a break of the resistance at 1.0890 (Nov 14 high) and maybe a rise to 1.0945 (Aug 30 high).
The alternative scenario implies a decline to 1.0760 (Nov 6 high) and then, maybe, to 1.0690 (Nov 14 low).
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