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- EUR / USD remains below MA (200) H1
EUR / USD remains below MA (200) H1
Today, the EUR / USD pair is trading in the range of $ 1.2115-60, after the pair hit a six-week low of $1.2050 on Monday. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.2150), and on the four - hour chart-below MA (200) H4 ($1.2185). Technically speaking, the strong support level of $1.2040-50 has so far kept EUR / USD from falling further. If it breaks through, the price may fall to $1.200. The $1.2160-80 area is the nearest resistance. If it is passed, the pair may follow the correction to $1.2220. The most likely range of the pair's movement for today may be hidden within the range of $1.2050-1.2180.
⦁ Resistance levels are: $1.2160-80, $1.2220, $1.2285
⦁ Support levels are: $1.2040-50, $1.2000, $1.1920
The main scenario for promoting the pair - breakout of the support of $1.2040-50 (December 2 and 9, January 18 lows) and, perhaps, a decline in the pair to $1.2000 (November 30 high, psychological level)
An alternative scenario - breakout of the resistance is $1.2160-80 (January 14-15 highs, session high) and the pair may rise to $1.2220 (January 13 high)
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