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- EUR/USD has risen slightly, but remains near a one-year low
EUR/USD has risen slightly, but remains near a one-year low
Today, the EUR/USD pair is mainly growing in the range of 1.0525-85, after falling yesterday to an annual low of 1.0495. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.0690) and on the four-hour chart below MA (200) H4 (1.0845). Technically speaking, the support of 1.0495 has so far kept EUR/USD from further decline. If this level is passed, the pair may fall to 1.0450. The upper limit of 1.0665 represents a strong resistance level.
⦁ Resistance levels are: 1.0585, 1.0665-90, 1.0730
⦁ Support levels are: 1.0495, 1.0450, 1.0395
The main scenario for the pair's promotion assumes a breakout of support at 1.0495 (Oct 13’ 2023 and Nov 14 low) and there may be a decrease to 1.0450 (Oct 3-4’ 2013 low)
An alternative scenario implies a breakout of the resistance of 1.0585 (Nov 14 high, session maximum) and there may be an increase to 1.0665-90 (Nov 12 high, MA (200) H1)
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