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- EUR/USD is trading near a 2-week high
EUR/USD is trading near a 2-week high
Today, the EUR/USD pair is trading in the range of 1.0690-1.0735 after rising on Friday to a 2-week high of 1.0760. On the hourly chart, the pair remains slightly above the moving average line MA (200) H1 (1.0690), but on the four-hour chart, the pair is trading below MA (200) H4 (1.0770). Technically speaking, the resistance level of 1.0760 may keep prices from rising further. If it breaks through, the pair may rise to 1.0885. The lower bound of 1.0600 represents a strong support level
⦁ Resistance levels are: 1.0760, 1.0870-85, 1.0940
⦁ Support levels are: 1.0675-80, 1.0640, 1.0600
The main scenario for the pair's promotion assumes a decrease to 1.0675-90 (April 24-29 lows, session low, MA (200) H1) and there may be a decrease to 1.0640 (April 23 low).
An alternative scenario implies a breakout of the resistance of 1.0760 (April 11 and 26 high) and there may be an increase to 1.0870-85 (April 9-10 highs).
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