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- EUR / USD is trading near the weekly minimum.
EUR / USD is trading near the weekly minimum.
Today, the EUR/USD pair is trading in the range of 1.0870-1.0900, having fallen to a weekly low yesterday. On the hourly chart, the pair is trading slightly below the MA (200) H1 (1.0910) moving average line, but on the four-hour chart it remains above the MA (200) H4 (1.0825). Technically speaking, the support level at 1.0870 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.0835. The upper boundary of 1.0980 represents a strong resistance level.
⦁ Resistance levels are: 1.0910, 1.0965-80, 1.1000
⦁ Support levels are: 1.0870, 1.0835-40, 1.0790-95
The main scenario for the pair suggests a break of the MA (200) H1 (1.0910) and may be a rise to 1.0965-80 (March 8 and 13 high).
The alternative scenario implies a break of support at 1.0870 (March 7 low) and may be a decline to 1.0835-40 (March 3-6 lows).
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