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- EUR/USD continues to rise to a 2-week high
EUR/USD continues to rise to a 2-week high
Today, the EUR/USD pair continued yesterday's gains and rose from 1.0865 to a 2-week high of 1.0940. Yesterday, the pair broke the resistance at 1.0850, which became the nearest support. On the hourly chart, the pair rose above the moving average MA (200) H1 line (1.0800). On the four-hour chart, the situation is similar. Technically speaking, the resistance level at 1.0965 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.1015. The lower boundary of 1.0770 represents a strong support level.
⦁ Resistance levels are: 1.0965, 1.1015, 1 1065
⦁ Support levels are: 1.0850, 1.0770, 1.0725
The main scenario for the pair suggests a break of resistance at 1.0965 (Nov 21 high) and a possible rise to 1.1015 (Nov 29 high)
The alternative scenario implies a break of support at 1.0850 (Dec 5 high) and may be a decline to 1.0770 (Dec 13 low).
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