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- The EUR / USD pair declined sharply and fell below MA (200) H1
The EUR / USD pair declined sharply and fell below MA (200) H1
Today, the EUR / USD pair fell sharply from $1.2135 to $1.2070, but at the time of writing, it rose slightly to $1.2085. On the hourly chart, the pair fell below the moving average line MA (200) H1 ($1.2135) and on the four - hour chart-below MA (200) H4 ($1.2185). Technically speaking, a strong support level of $1.2050-60 may keep EUR / USD from further declining. If it breaks through, the price may fall to $1.200. The session high and MA (200) H1 ($1.2135) are the nearest resistance. The most likely range of the pair's movement for today may be hidden within the existing range of $1.2050-1.2135.
⦁ Resistance levels are: $1.2135, $1.2155, $1.2190
⦁ Support levels are: $1.2050-60, $1.2000, $1.1920
The main scenario for promoting the pair - decline to $1.2050-60 (January 18 and 27 lows) and then maybe decline to $1.2000 (November 30 high)
An alternative scenario - correction, and there may be an increase to the session high and MA (200) H1 ($1.2135)
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