Technical Analysis
18.06.2024, 10:59

EUR/USD is trading near a 6-week low

Today, the EUR/USD pair is trading in the range of 1.0715-40 - slightly above the 6-week low of 1.0670 reached on Friday. On the hourly chart, the pair remains below the moving average line MA (200) H1 (1.0775) and on the four-hour chart below MA (200) H4 (1.0820). Technically speaking, the support of 1.0670 may keep EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0640.  The upper limit of 1.0850 represents a strong resistance level.


Resistance levels are: 1.0745, 1.0820, 1.0850


Support levels are: 1.0670, 1.0640-50, 1.0600


The main scenario for the pair's promotion assumes a breakout of support at 1.0670 (June 14 low) and there may be a decrease to 1.0640-50 (April 24 and May 5 lows)

An alternative scenario implies a breakout of the resistance of 1.0745 (June 14 high) and there may be an increase to 1.0820 (June 13 high) and then to 1.0850 (June 12 high).

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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