Today, the EUR/USD pair is trading in the range of $1.0610-70 and is testing the moving average line MA (200) H1 ($1.0630) on the hourly chart. On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.0685). Technically speaking, the resistance of $1.0670 may keep prices from rising further. The lower bound of $1.0515 represents a strong support level.
⦁ Resistance levels are: $1.0670, $1.0760, $1.0805
⦁ Support levels are: $1.0550, $1.0515, $1.0480
The main scenario of the pair's promotion assumes a breakout of the support of $1.0550 (March 16 low) and there may be a decline to $1.0515 (March 15 low).
An alternative scenario implies a breakout of the session maximum of $1.0670 and there may be an increase to $1.0760 (March 15 high).
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