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- EUR/USD is trading near the almost 2-month high.
EUR/USD is trading near the almost 2-month high.
Today, the EUR/USD pair is trading in the range of 1.0890-1.0910 - near the almost 2-month high of 1.0915 reached yesterday. Yesterday, the pair broke through the 1.0890 resistance, which was the nearest support. On the hourly chart, the pair moved above the moving average line MA (200) H1 (1.0850) and on the four-hour chart, the pair is above the MA (200) H4 (1.0815). Technically speaking, the resistance level at 1.0930 may keep prices from rising further. In case it is broken, the pair may fall to 1.0970. The lower boundary of 1.0835 represents a strong support level.
⦁ Resistance levels are: 1.0915-30, 1.0970, 1.1000
⦁ Support levels are: 1.0890, 1.0835-50, 1.0790-95
The main scenario of the pair's advance suggests a break of the resistance at 1.0915-30 (Jan 23 and March 6 highs) and there could be a rise to 1.0970 (Jan 15 high).
The alternative scenario implies a break of the support at 1.0890 (Feb 22 high, session low) and there could be a decline to 1.0835-50 (March 4-6 lows, MA (200) H1).
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