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- EUR/USD retreated from a 3-week low
EUR/USD retreated from a 3-week low
Today, the EUR/USD pair is mainly growing in the range of 1.0815-40, retreating from the 3-week low of 1.0800 reached yesterday. On the hourly chart, the pair remains below the moving average line MA (200) H1 (1.0865), but on the four-hour chart it remains above MA (200) H4 (1.0800). Technically speaking, the 1.0800 support kept EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0710. The upper limit of 1.0905 represents a strong resistance level.
⦁ Resistance levels are: 1.0865-70, 1.0905, 1.0950
⦁ Support levels are: 1.0800, 1.0710, 1.0665
The main scenario for the pair's promotion assumes an increase to 1.0865-70 (July 24-29 high, MA (200) H1) and then, maybe, to 1.0905 (July 22 high)
An alternative scenario implies a breakout of support 1.0800 (July 5 and 29 low) and may be a decline to 1.0710 (July 2 low)
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