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- EUR/USD is trading near a monthly hig
EUR/USD is trading near a monthly hig
Today, the EUR/USD pair is mainly growing in the range of 1.1155-1.1210, almost reaching the monthly maximum of 1.1215 recorded earlier last week. On the hourly chart, the pair rose slightly above the moving average line MA (200) H1 (1.1150) and on the four-hour chart above MA (200) H4 (1.1100). Technically speaking, the resistance of 1.1215 is still keeping 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.
⦁ Resistance levels are: 1.1215, 1.1240, 1.1275
⦁ Support levels are: 1.1155, 1.1120, 1.1070-85
The main scenario for the pair's promotion assumes a breakout of the resistance at 1.1215 (Sept 25 high) and there may be an increase to 1.1240 (July 19’ 2023 high)
An alternative scenario implies a breakout of the session minimum of 1.1155 and MA (200) H1 (1.1150) and there may be a decrease to 1.1120 (Sept 25 low)
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