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- EUR / USD is trading near the maximum value since the beginning of the year
EUR / USD is trading near the maximum value since the beginning of the year
Today, the EUR/USD pair is trading in the range of 1.1020-50 - about the maximum value since the beginning of the year. On the hourly chart, the pair rose above the moving average line MA (200) H1 (1.0960) and on the four-hour chart above MA (200) H4 (1.0885). In this situation, a scenario of further growth of the EUR/USD pair is likely. Technically speaking, the resistance of 1.1050 is still keeping EUR/USD from further growth. If this level is passed, the pair may rise to 1.1085. The lower bound of 1.0880 represents a strong support level.
⦁ Resistance levels are: 1.1050, 1.1085, 1.1140
⦁ Support levels are: 1.0950-60, 1.0880, 1.0825
The main scenario for the pair's promotion assumes a breakout of the session maximum of 1.1050 (Aug 14 high) and there may be an increase to 1.1085 (Dec 29 high)
An alternative scenario implies a breakout of support at 1.0950-60 (Aug 15 low, MA (200) H1) followed by a likely decline to 1.0880 (Aug 8 low)
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