Today, EUR/USD is trading in the range of 1.0675-1.0710 after last week's decline to the 5-month low of 1.0630. On the hourly chart, the pair is testing the MA (200) H1 (1.0710) moving average line, but on the four-hour chart, it has consolidated below the MA (200) H4 (1.0835). Technically speaking, the resistance level of 1.0770 may keep prices from rising further. The lower boundary of 1.0630 represents a strong support level.
⦁ Resistance levels are: 1.0710, 1 0770, 1.0810
⦁ Support levels are: 1.0655, 1.0630, 1.0520
The main scenario for the pair suggests a break of support at 1.0655 (Sept 18 low) and a possible decline to 1.0630 (Sept 14-15 low)
The alternative scenario implies a break of the session high of 1.0710 and may be a rise to 1.0770 (Sept 12-13 high).
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