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- EUR/USD is trading near a 2-month high.
EUR/USD is trading near a 2-month high.
EUR/USD is trading in the 1.0920-40 range today after rising last week to a 2-month high of 1.0970. On the hourly chart, the pair moved above the MA (200) H1(1.0880) moving average line and on the four-hour chart above the MA (200) H4 (1.0820). Technically speaking, the resistance level at 1.0980 may keep prices from rising further. In case it is broken, the pair may fall to 1.1000. The lower boundary of 1.0870 represents a strong support level.
⦁ Resistance levels are: 1.0980, 1.1000, 1.1085
⦁ Support levels are: 1.0915, 1.0870-80, 1.0835-40
The main scenario for the pair suggests a break of resistance at 1.0980 (March 8 high) and a possible rise to 1.1000 (Jan 5 and 11 highs).
The alternative scenario implies a break of support at 1.0915 (March 11 low) and may be a decline to 1.0870-80 (March 7 low, MA (200) H1).
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