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- EUR/USD is trading at a 2-week low.
EUR/USD is trading at a 2-week low.
Today, the EUR/USD pair is mostly declining from 1.0870 to 1.0835, staying within yesterday's trading range. The pair is trading near the 2-week low of 1.0835 reached yesterday. On the hourly chart, EUR/USD has dipped below the H1 MA (200) H1 moving average line (1.0910), but remains above the H4 MA (200) H4 (1.0830) on the four-hour chart. Technically speaking, the support level at 1.0835 may keep prices from declining. In case of its breakdown, the pair may fall to 1.0790. The upper boundary of 1.0910 represents a strong resistance level.
⦁ Resistance levels are: 1.0875, 1.0910, 1.0965-80
⦁ Support levels are: 1.0835, 1.0790-95, 1.0760
The main scenario for the pair suggests a break of the support at 1.0835 (March 19 low) and a possible decline to 1.0790-95 (Feb 21, 28-29 and March 1 lows).
The alternative scenario implies a break of 1.0875 (March 19 high) and may be a rise to 1.0910 (March 18 high, MA (200) H1).
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