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- EUR/USD tests MA (200) H1
EUR/USD tests MA (200) H1
Today the EUR/USD pair is mostly declining from 1.1010 to 1.0960 and on the hourly chart is testing the MA (200) H1 moving average line (1.0990). On the four-hour chart, the situation is similar. Technically speaking, the support level of 1.0915 may keep prices from further declines. If broken, EUR/USD could fall to 1.0835. The upper boundary of 1.1050 represents a strong resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of 1.0915-1.1050
⦁ Resistance levels are: 1.1010, 1.1045-50, 1.1150
⦁ Support levels are: 1.0915, 1.0835, 1.0770
The main scenario for the pair suggests a break of the support at 1.0915 (August 3 low) and there could be a decline to 1.0835 (June 30, July 7 low).
An alternative scenario implies a break of 1.1010 resistance (August 7 high, session high) and there could be upside to 1.1045-50 (July 28-31 and August 4 highs).
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