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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 range of 1.0870-1.0905 - slightly above the 6-week low of 1.0845 reached on Friday. On the hourly chart, the pair remains below the MA (200) H4 moving average line (1.0930). On the four-hour chart, the pair is trading below the MA (200) H4 (1.1020). Technically speaking, the support level of 1.0835-45 may keep prices from further declines. If broken, EUR/USD could fall towards 1.0805. The upper boundary of 1.0935 represents a strong resistance level. The most likely range of oil price movement for today may be hidden within the existing 1.0845-1.0935 range.
⦁ Resistance levels are: 1.0920-35, 1.0960, 1.1005
⦁ Support levels are: 1.0835-45, 1.0805, 1.0775
The main scenario for the pair suggests a break of the support at 1.0835-55 (June 30, July 6 and Aug 18 lows) and a possible decline to 1.0805 (June 15 low)
An alternative scenario implies resistance at 1.0920-35 (Aug 16-17 highs, MA (200) Н1) and there could be upside to 1.0960 (Aug 14 highs).
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