EUR/USD is mostly rising today from 1.0570 to 1.0645 after declining yesterday to a 2-week low of 1.0520. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0590). On the four-hour chart, the situation is similar. Technically speaking, the strong resistance level at 1.0695 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.0740. The lower boundary of 1.0520 represents a strong support level.
⦁ Resistance levels are: 1.0675-95, 1 0740, 1.0770
⦁ Support levels are: 1.0590, 1.0520, 1.0480-95
The main scenario for the pair suggests a break of the MA (200) H1 (1.0590) and maybe a decline to 1.0520 (Nov 1 low).
The alternative scenario implies a rise to 1.0675-95 (Oct 24 and 31 highs) and then, maybe, to 1.0740 (Sep 20 high).
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