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- EUR/USD is trading near a 2-month low
EUR/USD is trading near a 2-month low
Today, the EUR/USD pair is trading in the range of 1.0675-1.0705 - about a 2-month low of 1.0665. On the hourly chart, the pair tests the moving average line MA (200) H1 (1.0720) and on the four-hour chart remains below MA (200) H4 (1.0800). Technically speaking, the support of 1.0665 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 1.0760 represents a strong resistance level.
⦁ Resistance levels are: 1.0720, 1.0760, 1.0820
⦁ Support levels are: 1.0665, 1.0640-50, 1.0600
The main scenario for the pair's promotion assumes a breakout of support at 1.0670 (June 14 and 21 low) and may be a decline to 1.0640-50 (April 23 and May 1 lows)
An alternative scenario implies a breakout of the resistance of 1.0760 (June 18 high) and there may be an increase to 1.0820 (June 13 high) and then to 1.0850 (June 12 high)
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