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- EUR/USD remains below MA 200 H1
EUR/USD remains below MA 200 H1
On Friday, the EUR/USD was trading in different directions in the range of $1.0795-$1.0825 and closed the day without significant changes. Today it was also trading in a narrow range of $1.0795-20, staying close to Friday's closing price. On the hourly chart, EUR/USD is still trading below the moving average MA (200) H1 ($1.0865). 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 for the formation of a correction.
Resistances levels are at: $1.0835, $1.0920-35, $1.0990
Support levels are at: $1.0760, $1.0700, $1.0600
Probably, the main scenario is continued decline towards $1.0760 (Apr 14 low).
The alternative scenario is a consolidation above the MA 200 H1, followed by a rise to $1.1055 (Apr 4 high).
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