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- EUR/USD is trading near a 20-year low
EUR/USD is trading near a 20-year low
Today, the EUR/USD pair is trading in the range of $0.9915-75 after falling yesterday to a new 20-year low of $0.9900. On the hourly chart, EUR/USD settled below the moving average line of MA (200) H1 ($1.0110) and on the four-hour chart it fell below MA (200) H4 ($1.0155). In this situation, a scenario of further decline of the EUR/USD pair is likely. Finding a sell position can be a wise decision for those who want to take advantage of a stronger US dollar.
⦁ Resistance levels are: $1.0020, $1.0100-10, $1.0200
⦁ Support levels are: $0.9900, $0.9800, $0.9700
The main scenario implies a breakthrough of yesterday's low of $0.9900, followed by a likely decline to the psychological level of $0.9800
An alternative scenario is a breakout of the resistance of $1.0020 (August 23 high) and there may be an increase to $1.0100-10 (August 19 high, MA (200) H1)
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