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- The EUR/USD is testing the MA 200 H1 resistance
The EUR/USD is testing the MA 200 H1 resistance
Yesterday the EUR/USD traded higher and closed the day in positive territory around $1.0890. Today it has also slightly increased, having risen to the level of $1.0910. On the hourly chart, EUR/USD is testing resistance - the moving average line MA (200) H1 ($1.0905). On the four-hour chart, it is still below the MA 200 H4 line. 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 at the end of the correction.
Resistances levels are at: $1.0930-35, $1.0990, $1.1055
Support levels are at: $1.0810, $1.0775, $1.0700
Probably, the main scenario is continued decline towards $1.0810 (Apr 13 low).
Alternative scenario is consolidation above MA 200 H1, followed by a rise to $1.1055 (Apr 4 high).
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