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- EUR/USD is trading near an annual low
EUR/USD is trading near an annual low
Today, the EUR/USD pair is mainly declining from 1.0605 to 1.0525, having lost all the positions gained yesterday. The pair remains slightly above the annual low of 1.0495 reached last week. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.0630) and on the four-hour chart below MA (200) H4 (1.0815). 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: 1.0610-30, 1.0665, 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 1.0610-30 (Nov 18 high, MA (200) H1) and there may be an increase to 1.0665 (Nov 12 high)
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