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- EUR/USD is trading near a 2-month low
EUR/USD is trading near a 2-month low
Today, the EUR/USD pair is trading in the range of $1.0720-45 - about the 2-month low of $1.0710 reached yesterday. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($1.0795). On the four-hour chart, the pair dropped below MA (200) H4 ($1.0935). Technically speaking, the support of $1.0710 may keep prices from further decline. The upper limit of $1.0850 represents a strong resistance level.
⦁ Resistance levels are: $1.0800, $1.0830-50, $1.0905
⦁ Support levels are: $1.0710, $1.0630, $1.0515
The main scenario of the pair's promotion assumes a breakout of the support of $1.0710 (March 24 and May 25 low) and there may be a decline to $1.0630 (March 20 low)
An alternative scenario implies a breakout of the resistance of $1.0800 (May 24 high) and there may be an increase to $1.0830-50 (May 18-22 highs)
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