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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 1.0920-45 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 (1.0895) 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: 1.0950, 1.0980, 1.1000
⦁ Support levels are: 1.0900, 1.0870, 1.0835-40
The main scenario for the pair suggests a break of the resistance at 1.0950 (March 11 high) and maybe a rise to 1.0980 (March 8 high).
The alternative scenario implies a break of support at 1.0900 (March 12 low) and may be a decline to 1.0870 (March 7 low).
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