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- EUR / USD is trading below MA (200) H1
EUR / USD is trading below MA (200) H1
Today, the EUR / USD pair is trading in the range of $1.2080-1.2115 after a sharp decline yesterday from $1.2170 to a ten-day low ($1.2060). On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.2130) and on the four-hour chart, the pair is trading below MA (200) H4 ($1.2190). Technically speaking, a strong MA (200) H1 ($1.2130) level may keep EUR / USD from rising. If it breaks through, the price may rise to $1.2175-90. The lower limit of $1.2050-60 is the nearest resistance. The most likely range of the pair's movement for today may be hidden within the existing range of $1.2080-1.2115.
⦁ Resistance levels are: $1.2130, $1.2175-90, $1.2220
⦁ Support levels are: $1.2050-60, $1.2040, $1.2000
The main scenario for promoting the pair - if the resistance of MA (200) H1 ($1.2130) is broken, the pair can rise to $1.2175-90 (January 22-26 highs)
An alternative scenario - correction, and there may be a decline to $1.2050-60 (January 18 and 27 lows)
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