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- EUR/USD still tests support MA 200 H1
EUR/USD still tests support MA 200 H1
On Friday, the EUR/USD was traded with an increase and closed the day at a positive area about the price of $1.1340. Today the couple fell a little, dropping to $1.1330. On the hourly, EUR/USD still tests for strength support - a line of a moving average MA (200) H1 ($1.1385). On the four-hour schedule, the situation is similar. Based on the foregoing, it is likely that you should adhere to the northern direction in trade and while the EUR/USD will not finally be fixed below the MA 200 H1, it may be necessary to look for the purchase points to end the correction.
Resistance levels are on: $1.1370, $1.1420-35, $1.1480
Support levels are on: $1.1300, $1.1285, $1.1265
Probably, the main scenario is the continuation of growth to $1.1370 (Jan 20 high). The alternative scenario is consolidation below MA 200 H1, followed by a decrease to $1.1275 (Jan 4 low).
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