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- EUR/USD is trading near a 6-week low.
EUR/USD is trading near a 6-week low.
The EUR/USD pair is mostly declining today, from 1.0850 to 1.0815, hitting a 6-week low again. On the hourly chart, the pair fell below the MA (200) H1(1.0870) moving average line. On the four-hour chart, EUR/USD fell below the MA (200) H4 (1.0930). Technically speaking, the support level of 1.0815 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.0770. The upper boundary of 1.0900 represents a strong resistance level.
⦁ Resistance levels are: 1.0850, 1.0885-1.0900, 1.0930
⦁ Support levels are: 1.0815, 1.0770, 1.0725
The main scenario for the pair suggests a breakout of the session low of 1.0815 (Jan 26 low) and may be a decline to 1.0770 (Dec 13 low).
The alternative scenario implies a breakout of the session high of 1.0850 and may be a rise to 1.0885-1.0900 (Jan 25-26 highs).
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