Technical Analysis

This morning, EUR / USD was trading in a narrow range near the closing level of yesterday's session ($1.1080). During European trading, the pair is more volatile and is trading in the range of $1.1075-95, while remaining near one-month lows. The Euro is trading below the moving average MA (200) H1 ($1.1120) and on the four-hour chart slightly below MA (200) H4 ($1.1120).

⦁ Resistance levels are at: $1.1095, $1.1120, $1.1140-45

⦁ Support levels are at: $1.1065-75, $1.1040, $1.1000

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Yesterday, the EUR/USD rose in the morning to the level of $1.1115. However, already during the American session it collapsed sharply and closed the day in negative territory near the level of $1.1075. This morning the EUR/USD was trading in a narrow range of $ 1.1075-85, remaining near yesterday's closing price. On the hourly chart, the euro is still below the MA (200) H1 moving average line ($1.1115). On a four-hour chart, a similar situation.

• Resistances levels are at: $1.1115, $1.1140, $1.1170

• Support levels are at: $1.1075, $1.1040, $1.1005

The publication of analysis is a marketing communication and does not constitute recommendation, investment advice or research by TeleTrade. Analysis is not prepared in accordance with legal requirements promoting independent investment research. It is intended solely for informational and educational purposes and shall not be understood as an offer or solicitation to buy or sell financial instruments. Indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.