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- EUR/USD is trading near a 3-week high
EUR/USD is trading near a 3-week high
Today, the EUR/USD pair is trading in the range of 1.0785-1.0805 after rising yesterday to a 3-week high of 1.0820. The pair broke through the 1.0775 resistance yesterday, which became the closest support. On the hourly chart, the pair has risen above the moving average line MA (200) H1 (1.0730) and on the four-hour chart it is testing MA (200) H4 (1.0785). Technically speaking, the resistance of 1.0820 is still keeping EUR/USD from further growth. If this level is broken, the pair may rise to 1.0850. The lower bound of 1.0710 represents a strong support level.
⦁ Resistance levels are: 1.0820, 1.0850, 1.0915
⦁ Support levels are: 1.0775, 1.0710, 1.0665
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.0820 (June 13 and July 3 high) and there may be an increase to 1.0850 (June 12 high)
An alternative scenario implies a breakout of the 1.0775 support (July 1 high) and may be a decline to 1.0710 (July 2 low)
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