Technical Analysis
23.09.2022, 11:20

EUR/USD dropped to a new 20-year low

Today, the EUR/USD pair is mainly declining from $0.9850 to $0.9735, having reached new 20-year lows. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($0.9960). On the four-hour chart, the pair remains below MA (200) H4 ($1.0035). In this situation, a scenario of further decline of the EUR/USD pair is likely. And as long as the pair remains below MA (200) H1, finding a sell position may be a wise decision. Technically speaking, the support of $0.9735 can keep prices from further decline. The upper limit of $0.9960-80 represents the resistance level.

Resistance levels are: $0.9905, $0.9960-80, $1.0050

Support levels are: $0.9735, $0.9700, $0.9600

The main scenario of the pair's promotion assumes a breakout of the session minimum of $0.9735, followed by a likely decline to the psychological level of $0.9700

An alternative scenario is a breakout of the resistance of $0.9905 (September 22 high) and there may be an increase to $0.9960-80 (September 21 high, MA (200) H1)

Symbol Bid Ask Time

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