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- EUR/USD is trading near a 3-week high
EUR/USD is trading near a 3-week high
Today, the EUR/USD pair is trading in the range of 1.1150-80 after rising this week to a 3-week high of 1.1190. On the hourly chart, EUR/USD rose above the moving average line MA (200) H1 (1.1090) and on the four-hour chart above MA (200) H4 (1.1060). Technically speaking, the resistance of 1.1200 may keep EUR/USD from further growth. If this level is passed, the pair may rise to 1.1240. The lower bound of 1.1070 represents a strong support level. The most likely range of the pair's movement for today may be hidden within the range of 1.1070-1.1200
⦁ Resistance levels are: 1.1190-1.1200, 1.1240 1.1275
⦁ Support levels are: 1.1070 1.1000 1.0950
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.1190-1.1200 (Aug 23-26 and Sept 18 highs) and there may be an increase to 1.1240 (July 21’ 2023 high).
An alternative scenario implies a breakout of MA (200) H1 (1.1090) and support of 1.1070 (Sept 19 low) and there may be a decrease to 1.1000 (Sept 11 low)
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