Technical Analysis
10.07.2024, 11:00

EUR/USD is trading near a 4-week high

Today, the EUR/USD pair is trading in the range of 1.0810-25 - around the 4-week high of 1.0845 reached on Friday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0780). The situation is similar on the four-hour chart. Technically speaking, the resistance of 1.0850 may keep EUR/USD from further growth. In case of breaking through this level, the pair may rise to 1.0915. The lower bound of 1.0710 represents a strong support level.


Resistance levels are: 1.0845-50, 1.0915, 1.0965


Support levels are: 1.0800, 1.0710, 1.0665



The main scenario for the pair's promotion assumes a breakout of the resistance of 1.0845-50 (June 12 and July 8 highs) and there may be an increase to 1.0915 (June 4 high)

An alternative scenario implies a breakout of the support of 1.0800 (July 5 low) and MA (200) H1 (1.0780) and there may be a decrease to 1.0710 (July 2 low)

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

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