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- EUR / USD declines, but remains above MA (200) H1
EUR / USD declines, but remains above MA (200) H1
Today, the EUR / USD pair is trading mainly with a decline from $1.1990 to $1.1940, after a sharp increase at the end of yesterday's US trading from $1.1895 to $1.1990. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.1920), but on the four-hour chart, the pair is trading below MA (200) H4 ($1.2040). In this situation, it is probably worth sticking to the south direction in trading and, at the end of the correction, you should look for a point of exit to sell. Technically speaking, the strong resistance level of $1.1990 kept the pair from further growth yesterday. MA (200) H1 ($1.1920) represents the support level.
⦁ Resistance levels are: $1.1990, $1.2045, $1.2110
⦁ Support levels are: $1.1920, $1.1870-80, $1.1835
The main scenario for promoting the pair - if the support for MA (200) H1 ($1.1920) is broken, the pair may fall to $1.1870-80 (March 10 and 16-17 lows)
An alternative scenario - correction and may be an increase to $1.1990 (March 11-12 and 17 high, session high)
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