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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 growing from $0.9940 to 1.0020, having regained some of the positions lost yesterday. The pair remains near the 20-year lows reached last week. On the hourly chart, EUR/USD is testing the moving average line MA (200) H1 ($0.9985) and on the four-hour chart remains below MA (200) H4 ($1.0135). Technically speaking, the resistance of $1.0080-90 can keep prices from further growth. The lower bound of $0.9900-10 represents the support level.
⦁ Resistance levels are: $1.0080-90, $1.0200, $1.0270
⦁ Support levels are: $0.9900-10, $0.9800, $0.9700
The main scenario of the pair's promotion assumes a decline to $0.9900-10 (August 23-24 and September 1 lows), followed by a likely decline to the psychological level of $0.9800
An alternative scenario is a breakout of the resistance of $1.0080-90 (August 26 and 31 highs) and there may be an increase to $1.0200 (August 17 high)
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