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- EUR/USD remains below the MA (200) H1
EUR/USD remains below the MA (200) H1
Today, EUR/USD is mostly rising in the 1.0900-15 range, but on the hourly chart the pair remains below the MA (200) H1 moving average line (1.0965). On the four-hour chart, the pair is trading below the MA (200) H4 (1.1020). Technically speaking, the resistance level at 1.0960-65 may keep prices from rising further. If broken, EUR/USD could move up towards 1.1005. The lower boundary of 1.0875 represents a strong support level. The pair's most likely range of movement for today may be hidden within the existing 1.0875-1.10965 range.
⦁ Resistance levels are: 1.0960-65, 1.1005, 1.1065
⦁ Support levels are: 1.0900, 1.0875, 1.0835
The main scenario for the pair suggests a break of the support at 1.0900 (August 15 low) and a possible decline to 1.0875 (August 14 low).
The alternative scenario implies a break of resistance at 1.0960-65 (August 14 high, MA (200) H1) and a possible rise to 1.1005 (August 11 high).
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