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- EUR/USD remains near a 2-month low
EUR/USD remains near a 2-month low
Today, the EUR/USD pair is trading in the range of 1.0950-80, remaining in a sideways trend near the almost 2-month low of 1.0950. On the hourly chart, the pair has consolidated below the MA (200) H1 moving average line (1.1050). The situation is similar on the four-hour chart. Technically speaking, the support of 1.0950 has so far kept EUR/USD from further decline. If this level is passed, the pair may fall to 1.0880. The upper limit of 1.1085 represents a strong resistance level.
⦁ Resistance levels are: 1.1000, 1.1050, 1.1085
⦁ Support levels are: 1.0950, 1.0880, 1.0780
The main scenario for the pair's promotion assumes a breakout of support at 1.0950 (Aug 15 and Oct 4, session low) and there may be a decrease at 1.0880 (Aug 8 low)
An alternative scenario implies a breakout of 1.1000 resistance (Oct 8 high), an increase to 1.1050 (Oct 3 high, MA (200) H1) and then maybe 1.1085 (Oct 2 high)
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