Technical Analysis
16.09.2020, 11:03

EUR / USD is trading above MA (200) H1

Today, the EUR / USD pair is trading with growth (from $1.1830 to $1.1880), regaining most of the positions lost during yesterday's us trading. The pair is trading above the MA (200) H1 moving average line ($1.1830). The situation is similar on the four-hour chart. A strong resistance level ($1.1900-20) may keep EUR/USD from further growth. If it breaks through, the price may rise to $1.1965. The session low and MA (200) H1 ($1.1830) represents the support level. If this level is passed, the pair may follow a correction to $1.1800. The most likely range of price movement today may be hidden within the range of $1.1800-1.1920.

Resistance levels are at: $1.1900-20, $1.1965, $1.2010

Support levels are at: $1.1830, $1.1800, $1.1750

The main scenario for promoting the pair  - continuation of the upward movement to $1.1900-20 (September 10 and 15 highs) and then possible growth to $1.1965 (August 31 high)

An alternative scenario - breakout of the session low and MA (200) H1 ($1.1830) and likely decline of the pair to $1.1800 (September 10 low)

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