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- EUR / USD near the lows of early August
EUR / USD near the lows of early August
Today, the EUR/USD pair is trading in the range of 1.0850-70 - near the lows of early August. On the hourly chart, the pair remains below the MA (200) H1 moving average line (1.0930). On the four-hour chart, EUR/USD dropped below MA (200) H4 (1.1055). Technically speaking, the support of 1.0850 keeps EUR/USD from further decline for now. If this level is passed, the pair may fall to 1.0780. The upper limit of 1.1000 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.0850-1.1000.
⦁ Resistance levels are: 1.0920-30, 1.0955, 1.1000
⦁ Support levels are: 1.0850, 1.0780, 1.0710
The main scenario for the pair's promotion assumes a breakout of the session low of 1.0850 and may be a decrease of 1.0780 (Aug 1 low)
An alternative scenario implies a breakout of the resistance of 1.0920-30 (Oct 15 high, МА (200) Н1), an increase to 1.0955 (Oct 1 high) and then maybe 1.1000 (Oct 8 high)
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