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- EUR/USD is trading near 2-week high
EUR/USD is trading near 2-week high
Yesterday the EUR/USD traded in different directions in the range of $1.2120-$1.2145 and closed the day without significant changes. Today it rallied slightly, climbing to $1.2150, remaining close to a 2-week high. On the hourly chart, EUR/USD is still trading above the line MA (200) H1 ($1.2075). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading, and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.
Resistances levels are: $1.2150-55, $1.2180-90, $1.2220
Support levels are: $1.2120, $1.2070-80, $1.2020
Probably, the main scenario - is continued growth to $1.2150 (session high). An alternative scenario - may be final consolidation below MA 200 H1, followed by a decline to $1.1980 (low of the American session on Feb 5).
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