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- EUR/USD may test the strength of the MA (200) Н1.
EUR/USD may test the strength of the MA (200) Н1.
The EUR/USD pair is mostly rising today from 1.0510 to 1.0540 after declining on Friday to a weekly low of 1.0495. On the hourly chart, the pair may test the strength of the MA (200) H1 moving average line (1.0555) and remains below the MA (200) H4 (1.0650) on the four-hour chart. Technically speaking, the strong resistance level at 1.0560 may keep prices from rising further. In case of its breach, the pair may rise to 1.0640. The lower boundary of 1.0480 represents a strong support level.
⦁ Resistance levels are: 1.0555-60, 1 0640, 1.0675
⦁ Support levels are: 1.0480-95, 1.0440-50, 1.0290
The main scenario for the pair's advance involves a decline to 1.0480-95 (Oct 6 and 13 lows) and there could be a decline to 1.0440-50 (Dec 7’ 2022 low, Oct 3 low).
The alternative scenario implies a break of 1.0555-60 (Oct 13 high, MA (200) H1) and maybe a rise to 1.0640 (Oct 12 high)
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