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- EUR/USD is trading near a 2-week low
EUR/USD is trading near a 2-week low
Today, the EUR/USD pair is trading in the range of 1.0825-60 - about a 2-week low, remaining within yesterday's trading range. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.0890), but on the four-hour chart it remains above MA (200) H4 (1.0795). Technically speaking, the support of 1.0825 can keep EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0800. The upper limit of 1.0905 represents a strong resistance level.
⦁ Resistance levels are: 1.0870, 1.0905, 1.0950
⦁ Support levels are: 1.0825, 1.0800, 1.071
The main scenario for the pair's promotion assumes an increase to 1.0870 (July 24 high) and then, maybe, to 1.0905 (July 22 high)
An alternative scenario implies a breakout of support at 1.0825 (July 24 low) and may be a decline to 1.0800 (July 5 low)
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