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- EUR/USD is trading near a 2-week high
EUR/USD is trading near a 2-week high
Today, the EUR/USD pair is mainly growing in the range of 1.0845-75, reaching a 2-week high. On the hourly chart, the pair rose slightly above the moving average MA (200) H1 (1.0820), but on the four-hour chart it remains below MA (200) H4 (1.0980). Technically speaking, the resistance of 1.0875 is still keeping EUR/USD from further growth. If this level is passed, the pair may rise to 1.0920. The lower bound of 1.0760 represents a strong support level.
⦁ Resistance levels are: 1.0875, 1.0920, 1.0955
⦁ Support levels are: 1.0810, 1.0760, 1.0710
The main scenario for the pair's promotion assumes a decline to 1.0810 (Oct 30 low) and then, maybe, to 1.0760 (Oct 23 low)
An alternative scenario implies a breakout of the session high of 1.0875 (Oct 18-21 high) and there may be an increase of 1.0920 (Oct 15 high).
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