Today, the EUR/USD pair is trading in the range of 1.0470-1.0510 after rising to a 3-week high of 1.0515 on Friday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0390) and above MA (200) H4 (1.0360) on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and as long as the pair remains above the MA 200 H1, it is necessary to look for entry points to buy. Technically speaking, the resistance of 1.0515 has kept EUR/USD from further growth so far. The lower boundary of 1.0375 represents a strong support level.
Resistance levels are: 1.0515-35, 1.0595, 1.0630
Support levels are: 1.0450, 1.0375-90, 1.0320
The main scenario for the pair's advance assumes a breakout of the area 1.0515-35 (Jan 24-27 and Feb 14 highs) and there may be an increase to 1.0595 (Dec 9 high).
An alternative scenario implies a breakout of the support 1.0450 (Feb 14 low) and there may be a decline to 1.0375-90 (Feb 13 low, MA (200) H1)
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