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- EUR/USD remains near the highs of February 2022
EUR/USD remains near the highs of February 2022
Today, the EUR/USD pair is trading in the 1.1200-30 range, staying near the late February 2022 high of 1.1275. On the hourly chart, the pair is above the MA (200) H1 moving average line (1.1150). On the four-hour chart, EUR/USD remains above the MA (200) H4 (1.0940). Technically speaking, the strong support level at 1.1170 may keep prices from further declines. If broken, EUR/USD could fall to 1.1130. The upper boundary of 1.1275 represents a resistance level. If this level is passed, the price may follow the correction to 1.1360. The most probable range of the pair's movement for today may be hidden within the range of 1.1170-1.1275.
⦁ Resistance levels are: 1.1275, 1.1360, 1.1420
⦁ Support levels are: 1.1170, 1.1130, 1.0975
The main scenario for the pair suggests a break of resistance at 1.1275 (Feb 27’ 2022 high and July 18 high) and there could be a rise to 1.1360 (Feb 23’ 2022 high).
The alternative scenario implies a break of 1.1170 support (July 19 low) and there could be a decline to 1.1130 (July 13 low).
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