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- EUR/USD is trading near 10-day low
EUR/USD is trading near 10-day low
Today, the EUR/USD pair is trading in the 1.1040-90 range - near the 10-day low. On the hourly chart, the pair dipped slightly below the H1 MA (200) H1 moving average line (1.1180), but on the four-hour chart it remains above the H4 MA (200) H4 (1.0975). Technically speaking, the strong support level at 1.0975 could keep prices from further declines. If broken, EUR/USD could fall to 1.0945. The upper boundary of 1.1275 represents a resistance level. The most probable range of the pair's movement for today may be hidden within the range of 1.0975-1.1150.
⦁ Resistance levels are: 1.1090, 1.1150, 1.1230
⦁ Support levels are: 1.0975, 1.0945, 1.0835
The main scenario for the pair suggests a break of the session high of 1.1090 and a possible rise to 1.1150 (July 24 high)
The alternative scenario implies a break of support at 1.0975 (July 11 low) and a possible decline to 1.0945 (July 10 low).
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