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- EUR/USD rose to a 2-week high
EUR/USD rose to a 2-week high
Today, the EUR/USD pair continued yesterday's growth and rose from 1.0835 to a 2-week high of 1.0870. On the hourly chart, EUR/USD has risen above the MA (200) H1 (1.0800) moving average line and is testing MA (200) H4 (1.0850) on the four-hour chart. Technically speaking, the resistance level of 1.0870 may keep prices from rising further. If it breaks through, the pair may rise to 1.0910. The lower bound of 1.0760 represents a strong support level.
⦁ Resistance levels are: 1.0870, 1.0910, 1.0940
⦁ Support levels are: 1.0800, 1.0760, 1.0725
The main scenario for the pair's promotion assumes a breakout of resistance at 1.0870 (March 22 and 26 high, session high) and there may be an increase to 1.0940 (March 21 high).
An alternative scenario implies a decrease to MA (200) H1 (1.0800) and then, perhaps, to 1.0760 (April 3 low).
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