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- EUR/USD is growing and testing MA (200) H1
EUR/USD is growing and testing MA (200) H1
Today, the EUR/USD pair is trading in the range of $1.0880-1.0925, retreating yesterday from a 5-week low of $1.0805. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($1.0905), but on the four-hour chart it remains below MA (200) H4 ($1.0995). Technically speaking, the resistance of $1.0940 may keep prices from rising further. The lower bound of $1.0805 represents the support level.
⦁ Resistance levels are: $1.0940, $1.0990, $1.1075
⦁ Support levels are: $1.0805-10, $0765-75, $1.0725
The main scenario for promoting the pair — support breakthrough of $1.0805 (March 7 and April 13 low) and may be a decline to $0765-75 (May 7 and 14’ 2020 low)
An alternative scenario — if the resistance of $1.0940 (April 6-7 and 11 high) is broken, then the pair may rise to $1.0990 (April 5 high)
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