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- EUR/USD is trading near a more than one-month low.
EUR/USD is trading near a more than one-month low.
The EUR/USD pair is trading in the 1.0860-95 range today, after dropping this week to a more than one-month low of 1.0845. On the hourly chart, the pair remains below the MA (200) H1 (1.0925) moving average line and on the four-hour chart below the MA (200) H4 (1.0920). Technically speaking, the support level of 1.0845 will be able to keep prices from further declines. In case of its breakdown, the pair may fall to 1.0770. The upper boundary of 1.1000 represents a strong resistance level.
⦁ Resistance levels are: 1.0910-25, 1.0970, 1.1000
⦁ Support levels are: 1.0845, 1.0770, 1.0725
The main scenario for the pair suggests a break of support at 1.0845 (Jan 17 low) and maybe a decline to 1.0770 (Dec 13 low).
The alternative scenario implies a break of resistance at 1.0910-25 (Jan 18 high, MA (200) H1) and there could be a rise to 1.0970 (Jan 15 high).
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