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- EUR/USD is testing the MA 200 H1 resistance
EUR/USD is testing the MA 200 H1 resistance
Yesterday the EUR/USD traded in different directions in the range of $1.2020-65 and closed the day without significant changes. Today it rallied slightly, rising to $1.2080. On the hourly chart, EUR/USD is testing resistance - the MA (200) H1 ($1.2055) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the south direction in trading and while the EUR/USD remains below MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.
Resistances levels are at: $1.2085-00, $1.2130, $1.2155-65
Support levels are at: $1.2020, $1.1980, $1.1950
Probably, the main scenario - is a continuation of the decline to $1.2020 (Feb 8 low). An alternative scenario - may be final consolidation above the MA 200 H1, followed by a rise to $1.2165 (Jan 27 high).
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