Technical Analysis
21.06.2024, 11:20

EUR/USD is trading near a 2-month low

Today, the EUR/USD pair is mainly declining from 1.0725 to 1.0670, reaching an almost 2-month low of 1.0670, recorded earlier last week. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.0740) and on the four-hour chart remains below MA (200) H4 (1.0820). Technically speaking, the support of 1.0670 can keep EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0640. The upper limit of 1.0760 represents a strong resistance level.


Resistance levels are: 1.0725, 1.0760, 1.0820


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 may be a decrease to 1.0640-50 (April 23 and May 1 lows)

An alternative scenario implies a breakout of the session high of 1.0725 and may be an increase to 1.0760 (June 18 high).

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

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