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- EUR/USD is trading near a 10-day high
EUR/USD is trading near a 10-day high
Today, the EUR/USD pair is trading in the range of 1.0550-1.0600 - about a 10-day high. This week, the pair retreated from the lowest level since 2022 at 1.0335. On the hourly chart, the pair can test the strength of the moving average line MA (200) H1 (1.0520), but on the four-hour chart it remains below MA (200) H4 (1.071-). Technically speaking, the resistance of 1.0610 may keep EUR/USD from further growth. If this level is passed, the pair may rise to 1.0665. The lower bound of 1.0335 represents a strong support level.
⦁ Resistance levels are: 1.0610, 1.0665, 1.0730
⦁ Support levels are: 1.0520, 1.0425, 1.0335
The main scenario for the pair's advance assumes a breakout of MA (200) H1 (1.0520), a decline to 1.0425 (Nov 26 low) and then, maybe, to 1.0335 (Nov 22 low).
The alternative scenario implies a breakout of the resistance at 1.0610 (Nov 20 high) and may be an increase to 1.0665 (Nov 12 high)
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