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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 with an increase from $1.0430 to $1.0530 after reaching the lowest value since the beginning of January 2017 ($1.0350) last week. On the hourly chart, the pair is testing the MA (200) H1 ($1.0495) moving average line, but on the four-hour chart it remains significantly lower than MA (200) H4 ($1.0710). Technically speaking, the resistance of $1.0530 may keep prices from rising further. The lower bound of $0350 represents the support level.
⦁ Resistance levels are: $1.0530, $1.0600, $1.0640
⦁ Support levels are: $1.0430, $0390, $0350
The main scenario for promoting the pair — decline to the session low of $1.0430 and then, maybe, to $0390 (May 16 low)
An alternative scenario — resistance breakout of $1.0530 (May 12 high, session high) and there may be an increase to $1.0600 (May 6 high)
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