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- EUR/USD dropped to a 7-month low
EUR/USD dropped to a 7-month low
Today, the EUR/USD pair continues to decline and dropped from 1.0665 to a 7-month low of 1.0615. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.0800) and on the four-hour chart below MA (200) H4 (1.0895). Technically speaking, the 1.0600 support can keep EUR/USD from further decline. If this level is passed, the pair may fall to 1.0520. The upper limit of 1.0730 represents a strong resistance level.
⦁ Resistance levels are: 1.0665, 1.0730, 1.0825
⦁ Support levels are: 1.0600, 1.0520, 1.0495
The main scenario for the pair's promotion assumes a decrease to 1.0600 (April 16 low) and then maybe to 1.0600 (Oct 31’ 2013 low)
An alternative scenario implies a breakout of the session high of 1.0665 and may be an increase to 1.0730 (Nov 11 high, MA (200) H1)
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