Today, the EUR/USD pair is trading in the 1.0700-40 range - near the 3-month low of 1.0685 reached last week. On the hourly chart, the pair dipped below the MA (200) H1 moving average line (1.0780) and consolidated below the MA (200) H4 (1.0890) on the four-hour chart. Technically speaking, the support level of 1.0670 may keep prices from further decline. In case of its breakdown, prices may fall to 1.0635. The upper boundary of 1.0810 represents a resistance level.
⦁ Resistance levels are: 1.0750, 1 0810, 1.0880
⦁ Support levels are: 1.0670-85, 1.0635, 1.0550
The main scenario for the pair suggests a break of support at 1.0670-85 (July 6-7 and Sept 7 lows) and a possible decline to 1.0635 (May 31 low)
The alternative scenario implies a break of resistance at 1.0750 (Sept 6 high) and a possible rise to 1.0810 (Sept 4 high).
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