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- EUR/USD is trading near a 3-month high.
EUR/USD is trading near a 3-month high.
The EUR/USD pair is trading in the range of 1.0885-1.0925 today, having reached a new 3-month high of 1.0965 yesterday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0835) and on the four-hour chart above the MA (200) H4 (1.0660). Technically speaking, the resistance level at 1.0965 may keep prices from rising further. In case it is broken, the pair may rise to 1.1005. The lower boundary of 1.0825 represents a strong support level.
⦁ Resistance levels are: 1.0965, 1.1005, 1 1065
⦁ Support levels are: 1.0825-35, 1.0655, 1.0520
The main scenario for the pair suggests a break of resistance at 1.0965 (Nov 21 high) and a possible rise to 1.1005 (Aug 11 high)
The alternative scenario implies a break of the support at 1.0825-25 (Nov 15-17 lows, MA (200) H1) and a decline to 1.0655 (Nov 10 low).
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