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- EUR/USD tests MA (200) H1
EUR/USD tests MA (200) H1
The EUR/USD pair is mostly declining today, from 1.0765 to 1.0730, having lost some of the positions gained during yesterday's US trading. The pair is trading near the 3-month low of 1.0685 reached last week. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0745) and on the four-hour chart it has consolidated below the MA (200) H4 (1.0870). Technically speaking, the support level of 1.0685 may keep prices from further decline. In case of its breakdown, prices may fall to 1.0670. The upper boundary of 1.0810 represents a resistance level.
⦁ Resistance levels are: 1.0770, 1 0810, 1.0880
⦁ Support levels are: 1.0685 -1.0705, 1.0670, 1.0635
The main scenario for the pair suggests a break of support at 1.0685 -1.0705 (Sept 7-12 lows) and a possible decline to 1.0670 (June 6-7 low)
The alternative scenario implies a break of resistance at 1.0770 (Sept 12 high) and a possible rise to 1.0810 (Sept 4 high).
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