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- EUR / USD is trading near a 3-month low.
EUR / USD is trading near a 3-month low.
Today, the EUR/USD pair is trading in the range of 1.0695-1.0720 - near the 3-month low reached during yesterday's US trading. The pair broke through the 1.0720 support, which was the nearest resistance. On the hourly chart, EUR/USD has dipped below the MA (200) H1 (1.0770) moving average line and is trading below the MA (200) H4 (1.0875) on the four-hour chart. Technically speaking, the support level of 1.0695 may keep prices from declining. In case of its breakdown, the pair may fall to 1.0655. The upper boundary of 1.0805 represents a strong resistance level.
⦁ Resistance levels are: 1.0720, 1.0770, 1.0805
⦁ Support levels are: 1.0695, 1.0655, 1.0610
The main scenario for the pair suggests a break of the session low of 1.0695 and may be a decline to 1.0655 (Nov 10)
The alternative scenario implies a break of resistance at 1.0720 (Feb 5-6 low, session high) and the MA (200) H1 (1.0770) could be a rise to 1.0805 (Feb 12 low).
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