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- The EUR / USD pair rose above the MA (200) H1
The EUR / USD pair rose above the MA (200) H1
Today, the EUR / USD pair is trading in the range of $1.2150-90-near the weekly high reached yesterday. On the hourly chart, the pair has risen above the moving average line MA (200) H1 ($1.2135) and on the four-hour chart it is testing MA (200) H4 ($1.2185). Technically speaking, a strong resistance level of $1.2220 may keep EUR / USD from rising further. If it breaks through, the price may rise to $1.2285. MA (200) H1 ($1.2135) is the nearest support. If it is passed, the pair may follow the correction to $1.2050-75. The most likely range of the pair's movement for today may be hidden within the range of $1.2135-1.2220.
⦁ Resistance levels are: $1.2220, $1.2285, $1.2350
⦁ Support levels are: $1.2135, $1.2050-75, $1.2040
The main scenario for promoting the pair - break of the resistance of $1.2220 (January 13 high) and the pair may rise to $1.2285 (January 8 high)
An alternative scenario - correction, breakout of MA (200) H1 ($1.2135) and then, maybe, a decline of the pair to $1.2050-75 (January 18-20 lows)
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