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- EUR/USD is trading near a weekly high
EUR/USD is trading near a weekly high
Today, the EUR/USD pair is trading in the range of $1.0760-80 - about a weekly high. Yesterday, the pair retreated from the 9-week low of $1.0635 reached this week. On the hourly chart, the pair rose slightly above the MA (200) H1 moving average line ($1.0760). On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.0900). Technically speaking, the resistance of $1.0800 may keep prices from rising further. The lower bound of $1.0630-35 represents a strong support level.
⦁ Resistance levels are: $1.0800, $1.0830-50, $1.0905
⦁ Support levels are: $1.0730, $1.0660, $1.0630-35
The main scenario of the pair's promotion assumes a breakout of MA (200) H1 ($1.0760) and may be a decline to $1.0630 (March 20 and May 31 lows)
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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