Today, the EUR/USD pair is mainly declining from $1.0910 to $1.0860, but remains near the new 9-month high of $1.0925 reached on Monday. On the hourly chart, the pair remains slightly above the moving average line MA (200) H1 ($1.0840) and on the four-hour chart above MA (200) H4 ($1.0690). Technically speaking, the resistance of $1.0925-35 may keep prices from further growth. The lower bound of $1.0765 represents the support level.
⦁ Resistance levels are: $1.0925-35, $1.1055, $1.1165
⦁ Support levels are: $1.0835-40, $1.0800, $1.0765
The main scenario of the pair's promotion assumes a breakout of the resistance of $1.0925-35 (April 21 and January 23 highs) and there may be an increase of $1.1055 (April 4 high).
An alternative scenario implies a breakout of $1.0835-40 (January 24 low, MA (200) H1) and there may be a decline to $1.0765 (January 18 low).
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