Elliot Harris Posted November 8, 2023 Report Share Posted November 8, 2023 The EUR/USD pair is trading in the range of 1.0660–1.0700 today after hitting a 5-week high of 1.0755 on Monday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0635). On the four-hour chart, the situation is similar. Technically speaking, the strong support level of 1.0615 may keep prices from further declining. In the event of its breakdown, the pair may fall to 1.0520. The upper boundary of 1.0770 represents a strong resistance level. Resistance levels are 1.0705, 1.0755-70, and 1.0885. Support levels are 1.0660, 1.0615, and 1.0520. The main scenario for the pair suggests correction and growth to 1.0755-70 (Sept 12 and Nov 6 highs). The alternative scenario implies a breakout of the session lows of 1.0660 MA (200) and H1 (1.0635) and maybe a decline to 1.0615 (Nov. 3 low). Link to comment Share on other sites More sharing options...
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