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- EUR/USD dropped to a near one-month low
EUR/USD dropped to a near one-month low
Today, the EUR/USD pair is mainly declining from 1.0835 to 1.0780, reaching an almost one-month low. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.0845) and on the four-hour chart it is testing MA (200) H4 (1.0805). Technically speaking, the support of 1.0780 kept EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0710. The upper limit of 1.0870 represents a strong resistance level.
⦁ Resistance levels are: 1.0845-50, 1.0870, 1.0905
⦁ Support levels are: 1.0780, 1.0710, 1.0665
The main scenario for the pair's promotion suggests a breakout of the session low of 1.0780, there may be a decrease to 1.0710 (July 2 low)
An alternative scenario implies an increase to 1.0845-50 (July 31 high, MA (200) H1) and then, maybe, to 1.0870 (July 25-29 high)
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