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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 trading in the range of 1.0515-55 - near the annual low of 1.0495 reached last week. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0880) and on the four-hour chart it is trading below MA (200) H4 (1.0785). Technically speaking, the support of 1.0495 can keep 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, 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 (Nov 18-20 high) and there may be an increase to 1.0665 (Nov 12 high)
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