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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is mainly growing from $1.0695 to $1.0735 and is testing the MA (200) H1 moving average line ($1.0710) on the hourly chart. On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.0870). Technically speaking, the resistance of $1.0740 may keep prices from rising further. The lower bound of $1.0630-35 represents a strong support level.
⦁ Resistance levels are: $1.0740, $1.0780, $1.0830
⦁ Support levels are: $1.0665, $1.0630-35, $1.0550
The main scenario of the pair's promotion assumes a breakout of the support of $1.0665 (June 6-7 low) and there may be a decline to $1.0630-35 (March 20 and May 31 lows)
The alternative scenario implies a breakout of the resistance of $1.0740 (June 7 high) and there may be an increase to $1.0780 (June 2 high)
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