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- EUR/USD remains near the lows of the end of July 2020
EUR/USD remains near the lows of the end of July 2020
Today, the EUR/USD pair is trading in the range of $1.1550-80 - slightly above the low of the end of July 2020 ($1.1530) reached last week. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.1590) and on the four-hour chart - below MA (200) H4 ($1.1735). Technically speaking, the support of $1.1530 can keep prices from further decline. If it breaks through, prices may drop to $1.1505. The upper limit of $1.1590 represents the resistance level. The most probable range of the pair's movement for today may be hidden within the range of $1.1530-90.
⦁ Resistance levels are: $1.1580-90, $1.1640, $1.1705
⦁ Support levels are: $1.1530, $1.1505, $1.1425
The main scenario for promoting the pair — it is possible to decline to $1.1530 (October 6 low) and then, maybe, to $1.1505 (July 22’ 2020 low)
An alternative scenario — if the resistance of $1.1580-90 (October 8-11 high, MA (200) H1) is broken, then the pair may rise to $1.1640 (October 4-5 highs)
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