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- EUR/USD trades near 2-month low
EUR/USD trades near 2-month low
Today, the EUR/USD pair is trading in the range of 1.0725-65 - near the 2-month low reached yesterday. On the hourly chart, the pair fell below the MA (200) H1 moving average line (1.0825). On the four-hour chart, EUR/USD fell below the MA (200) H4 (1.0920). Technically speaking, the support level of 1.0725 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.0655. The upper boundary of 1.0900 represents a strong resistance level.
⦁ Resistance levels are: 1.0760, 1.0825, 1.0900
⦁ Support levels are: 1.0725, 1.0655, 1.0520
The main scenario for the pair suggests a break of the support at 1.0725 (Dec 8 low) and may be a decline to 1.0655 (Nov 10 low)
The alternative scenario implies a breakout of the session high of 1.0760 and MA (200) H1 (1.0825) and there may be a rise to 1.0900 (Jan 25 and Feb 2 high).
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