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- EUR/USD rose to a 5-month high
EUR/USD rose to a 5-month high
Today, the EUR/USD pair is mainly growing from 1.0890 to 1.0975, continuing Friday's growth and reaching a 5-month high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (1.0840) and on the four-hour chart above MA (200) H4 (1.0815). Technically speaking, the resistance of 1.0980 may keep EUR/USD from further growth. In case of breaking through this level, the pair may rise to 1.0000. The lower bound of 1.0780 represents a strong support level.
⦁ Resistance levels are: 1.0980, 1.0000, 1.1085
⦁ Support levels are: 1.0890, 1.0840, 1.0780
The main scenario for the pair's promotion assumes an increase of 1.0980 (March 8 high) and then maybe to 1.0000 (January 10 high)
An alternative scenario implies a breakout of the session low of 1.0890 and MA (200) H1 (1.0840) and may be a decrease to 1.0780 (July 25-29 low)
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