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- EUR/USD rose to a 6-month high
EUR/USD rose to a 6-month high
On the hourly chart of EUR/USD, there is a strong upward movement that has broken through several resistance levels. The pair rose from 1.0805 to a 6-month high of 1.1145. Previously, the price was in a downtrend for a long time, but after consolidation, there was a sharp upward momentum. The MA (200) H1 moving average (1.0810) was broken from the bottom up, which confirms the trend change. The MACD indicator shows a strong bullish momentum, confirming the strength of the movement. The nearest support levels are 1.0955 and 1.0860, while the nearest resistance remains 1.1145. If the price fixes higher, further growth is possible.
Resistance levels are: 1.1145, 1.1210, 1.1275
Support levels are: 1.0955, 1.0860, 1.0805
The main scenario for the pair's advance implies a breakout of the session high of 1.1145 (Oct 1 high) and there may be an increase to 1.1210 (Sep 27 high)
An alternative scenario suggests a breakout of 1.0955 (March 18 high), a decline to 1.0860 (March 21-24 high), and then a decline to the session low of 1.0805.
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