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- EUR/USD consolidated above MA 200 H1
EUR/USD consolidated above MA 200 H1
Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.1825. Today it was trading in a narrow range of $1.1795-45, staying close to yesterday's closing price. On the hourly chart, EUR/USD has broken through and consolidated above the MA line (200) H1 ($1.1725). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.
Resistances levels are at: $1.1855, $1.1880, $1.1900
Support levels are at: $1.1790, $1.1730, $1.1680
Probably, the main scenario - is continued growth to $1.1860 (Nov 5 high). An alternative scenario - may be consolidation below the MA 200 H1, followed by a drop to $1.1605 (Nov 4 low).
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