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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 1.0870-1.0915, reaching a new 2-week high. On the hourly chart, the pair rose slightly above the moving average MA (200) H1 (1.0830), but on the four-hour chart it remains below MA (200) H4 (1.0965). Technically speaking, the resistance of 1.0920 may keep EUR/USD from further growth. If this level is passed, the pair may rise to 1.0955. The lower bound of 1.0810 represents a strong support level.
⦁ Resistance levels are: 1.0920, 1.0955, 1.1000
⦁ Support levels are: 1.0830, 1.0810, 1.0760
The main scenario for the pair's promotion assumes a decrease to 1.0830 (Nov 1 low, MA (200) H1) and then, maybe, to 1.0810 (Oct 30 low)
An alternative scenario implies a breakout of the resistance of 1.0920 (Oct 15 high) and there may be an increase of 1.0955 (Oct 10-11 high)
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