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- EUR/USD remains below MA 200 H1
EUR/USD remains below MA 200 H1
Yesterday the EUR/USD was trading higher and closed the day in positive territory around the $1.2115. Today it was trading in a narrow range of $1.2115-25, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.2160). The situation is similar on the four-hour chart. Based on the foregoing, 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 entry points to sell on the formation of a correction.
Resistances levels are at: $1.2135, $1.2190, $1.2215
Support levels are at: $1.2090, $1.2040-50, $1.1985-95
Probably, the main scenario is a continuation of the decline to $1.2090 (Jun 11 low). An alternative scenario is consolidation above the MA 200 H1, followed by a rise to $1.2250 (Jun 1 high).
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