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- EUR/USD is trading near a near 2-month high
EUR/USD is trading near a near 2-month high
The EUR/USD pair fell slightly to 1.0865 after rising from the beginning of trading to an almost 2-month high of 1.0895. The EUR/USD pair is trading above MA (200) H1 (1.0790) and above MA (200) H4 (1.0740). In this situation, a scenario of further growth of the EUR/USD pair is likely. Technically speaking, the resistance level of 1.0895 is still keeping prices from further growth. If it breaks through, the pair may rise to 1.0950. The lower bound of 1.0725 represents a strong support level.
⦁ Resistance levels are: 1.0895, 1.0940, 1.0980
⦁ Support levels are: 1.0810, 1.0760, 1.0725
The main scenario for the pair's promotion assumes a breakout of the session high of 1.0895 and may be an increase to 1.0940 (March 21 high)
An alternative scenario implies a breakout of support at 1.0810 (May 15 low) and MA (200) H1 (1.0790) and there may be a decrease to 1.0760 (May 10 low).
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