The EUR/USD pair is trading in the 1.0635-70 range today after declining yesterday to a 5-month low of 1.0630. On the hourly chart, the pair dipped below the MA (200) H1 moving average line (1.0720) and consolidated below the MA (200) H4 (1.0855) on the four-hour chart. Technically speaking, the support level of 1.0630 may keep prices from further decline. In case of its breakdown, prices may fall to 1.0520. The upper boundary of 1.0770 represents a resistance level.
⦁ Resistance levels are: 1.0720, 1 0770, 1.0810
⦁ Support levels are: 1.0630, 1.0520, 1.0485
The main scenario for the pair suggests a break of support at 1.0630 (Sept 14 low) and may be a decline to 1.0520 (March 15 low)
The alternative scenario implies a break of the MA (200) H1 (1.0720) and may be a rise to 1.0770 (Sept 12-13 high).
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