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- EUR/USD rose to a new 4.5-month high.
EUR/USD rose to a new 4.5-month high.
The EUR/USD pair is mostly rising in the 1.1030-60 range today, reaching a new 4.5-month high. On the hourly chart, the pair rallied above the moving average line MA (200) H1 (1.0970). On the four-hour chart, the situation is similar. Technically speaking, the resistance level of 1.1065 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.1015. The lower boundary of 1.0930 represents a strong support level.
⦁ Resistance levels are: 1.1065, 1.1150, 1 1230
⦁ Support levels are: 1.0970-80, 1.0930, 1.0890
The main scenario for the pair suggests a break of the resistance at 1.1065 (Aug 10 high) and maybe a rise to 1.1150 (July 27 high).
The alternative scenario implies a break of support at 1.0970-80 (Dec 22 low, MA (200) H1) and a decline to 1.0930 (Dec 20 low).
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