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- EUR/USD is trading near a 2-month high
EUR/USD is trading near a 2-month high
Today, the EUR/USD pair is trading in the range of 1.0850-75 after rising last week to an almost 2-month high of 1.0895. The EUR/USD pair remains above the MA (200) H1 moving average line (1.0825) and above MA (200) H4 (1.0750) on the four-hour chart. Technically speaking, the resistance level of 1.0895 can keep prices from further stagnation. If it breaks through, the pair may rise to 1.0940. The lower bound of 1.0760 represents a strong resistance level.
⦁ Resistance levels are: 1.0895, 1.0940, 1.0980
⦁ Support levels are: 1.0825-35, 1.0760, 1.0725
The main scenario for the pair's promotion assumes an increase to 1.0895 (May 16 high) and then, maybe, to 1.0940 (March 21 high)
An alternative scenario implies a breakout of support at 1.0825-35 (May 17 low, МА (200) Н1) and there may be a decrease to 1.0760 (May 10 low).
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