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- EUR/USD is trading below MA (200) H1
EUR/USD is trading below MA (200) H1
Today, the EUR/USD pair is trading in the range of $1.0785-1.0820 after falling last week to a 2-year low of $1.0760. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.0860), and on the four-hour chart it remains below MA (200) H4 ($1.0970). Technically speaking, the support of $1.0760 can keep prices from further decline. The upper limit of $1.0925-40 represents the resistance level.
⦁ Resistance levels are: $1.0860, $1.0925-40, $1.0990
⦁ Support levels are: $1.0760, $0725, $1.0635
The main scenario for promoting the pair — the support breakthrough is $1.0760 ( April 14 low) and there may be a decline to $0725 ( April 24’ 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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