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- EUR/USD is trading near a 2.5-month high.
EUR/USD is trading near a 2.5-month high.
The EUR/USD pair is mostly rising from 1.0840 to 1.0880 today, again hitting a more than 2-month high. On the hourly chart, the pair rose slightly above the MA (200) H1 moving average line (1.0840). On the four-hour chart, the pair is trading above the MA (200) H4 (1.0815). Technically speaking, the resistance level of 1.0900 may keep prices from further growth. In case it is broken, the pair may fall to 1.0930. The lower boundary of 1.0790 represents a strong support level.
⦁ Resistance levels are: 1.0890-1.0900, 1.0930, 1.0970
⦁ Support levels are: 1.0835-40, 1.0790-95, 1.0760
The main scenario of the pair's advance suggests a break of the resistance 1.0890-1.0900 (Jan 25, Feb 2 and 22 highs) and there may be a rise to 1.0930 (Jan 24 high).
The alternative scenario implies a decline to 1.0835-40 (March 4-5 lows, MA (200) H1) and there could be a decline to 1.0790-95 (Feb 21, 28-29 and March 1 lows).
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