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- EUR/USD rose to a 4-month high
EUR/USD rose to a 4-month high
Today, the EUR/USD pair continues to grow steadily, rising from 1.0600 to a 4-month high of 1.0725. The MA (200) H1 moving average line (1.0465) is below the price, which confirms the uptrend. The MACD histogram is in the positive zone, which confirms the upward momentum. The current picture indicates an ongoing upward trend. If the session high of 1.0725 is broken, the pair may rise to the area of 1.0805-25. However, if buyers weaken, a retest of the 1.0600 level is possible.
Resistance levels are: 1.0725, 1.0805-25, 1.0870
Support levels are: 1.0600, 1.0530, 1.0470-80
The main scenario for the pair's advance implies a breakout of the session high of 1.0725 and there may be an increase to 1.0805-25 (Nov 7-8 highs)
An alternative scenario suggests a decline to the session low of 1.0600 and then maybe to 1.0530 (Feb 24-26 high).
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