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- EUR/USD tests MA (200) H1
EUR/USD tests MA (200) H1
Today the EUR/USD pair is trading in the range of 1.0975-1.1030 after rising yesterday to the 10-day high of 1.1065. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0975). On the four-hour chart, the situation is similar. Technically speaking, the support level of 1.0970 may keep prices from further decline. In case of a breakdown, EUR/USD could fall to 1.0910. The upper boundary of 1.1065 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the existing 1.0910-1.1065 range
⦁ Resistance levels are: 1.1065, 1.1150, 1.1230
⦁ Support levels are: 1.0970, 1.0915-30, 1.0835
The main scenario for the pair suggests a break of support at 1.0970 (August 10 low) and a possible decline to 1.0910-30 (August 3 and 8 lows).
The alternative scenario implies a break of resistance at 1.1065 (August 10 high) and may be a rise to 1.1150 (July 27 high).
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