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- EUR / USD tests MA 200 H1 resistance
EUR / USD tests MA 200 H1 resistance
On Friday, the EUR/USD pair was trading mostly down from$1.1990 to $1.1910, but closed the day in positive territory near the price of $1.1945. Today, the pair is trading in a narrow range slightly above the closing loss of the Friday session. On the hourly chart, EUR / USD is testing the strength of the resistance-the moving average line MA (200) H1 ($1.1950). On the four-hour chart, the pair remains below the MA (200) H4 (($1.2060) line. Based on the above, it is probably worth sticking to the south direction in trading and as long as the pair remains below MA (200) H4, it is necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: $1.1990, $1.2065, $1.2110
Support levels are at: $1.1910, $1.1870, $1.1835
Probably, the main scenario - decline to $1.1910 (March 12 low) and then maybe to $1.1870 (March 10 low)
An alternative scenario - may be consolidation above MA 200 H1, followed by a rise to $1.2110 (March 3 high).
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