Today, the EUR/USD pair is trading in the range of $1.0390-1.0450 - near the 4-month high of $1.0480 reached earlier last week. On the hourly chart, the pair rose slightly above the MA (200) H1 moving average line ($1.0340). On the four-hour chart, the pair remains above MA (200) H4 ($1.0005). Technically speaking, the resistance of $1.0480 may keep prices from rising further. The lower bound of $1.0220 represents the support level.
⦁ Resistance levels are: $1.0480, $1.0535, $1.0615
⦁ Support levels are: $1.0300, $1.0220, $1.0160
The main scenario of the pair's promotion assumes a breakout of the resistance of $1.0480 (November 15 high) and there may be an increase to $1.0535 (June 29 high)
An alternative scenario implies a breakout of the $1.0300 support (November 23 low) and may be a decline to $1.0220 (November 21 low)
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