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- EUR / USD falls to near two-month low
EUR / USD falls to near two-month low
Today, since the beginning of trading, the EUR/USD pair fell from $1.1710 to a nearly two-month low of $1.1670, but soon regained all the lost positions and rose to $1.1720. The pair settled below the MA (200) H1 moving average line ($1.1815) and below MA (200) H1 ($1.1830) on the four - hour chart. The session low of $1.1670 may prevent further decline. If it breaks through, the price may fall to $1.1580. The session high of $1.1720 represents the resistance level. If it is passed, then the pair may be followed by a correction to $1.1775. The most likely range of price movement today may be hidden within the range of $1.1670-1.1775
⦁ Resistance levels are at: $1.1720, $1.1775, $1.1815
⦁ Support levels are at: $1.1670, $1.1580, $1.1505
The main scenario for promoting the pair - break the session low of $1.1670 and then the pair may decline to $1.1580 (July 24 low)
An alternative scenario - a break of the session high of $1.1720 and then an increase to $1.1775 is possible (September 22 high)
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