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- EUR/USD is declining and testing MA (200) H1
EUR/USD is declining and testing MA (200) H1
Today, the EUR/USD pair is declining from $1.0960 to $1.0845 and is testing the MA (200) H1 moving average line ($1.0900) on the hourly chart. The pair retreated from the 6-week high of $1.1015 reached yesterday. On the four-hour chart, EUR/USD remains above MA (200) H4 ($1.0815). Technically speaking, the support of $1.0805 may keep prices from further decline. The upper limit of $1.1015 represents a strong resistance level.
⦁ Resistance levels are: $1.0970, $1.1015, $1.1055
⦁ Support levels are: $1.0845, $1.0805, $1.0730
The main scenario of the pair's promotion assumes a breakout of the resistance of $1.0970 (June 16 high) and there may be an increase to $1.1015 (June 22 high)
An alternative scenario implies a breakout of the session low of $1.0845 and may be a decline to $1.0805 (June 15 low)
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