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- EUR / USD may test the strength of the MA (200) H1
EUR / USD may test the strength of the MA (200) H1
Today the EUR/USD pair is mainly rising in the range of 1.0530-60 and on the hourly chart it may test the moving average line of MA (200) H1 (1.0565). On the four-hour chart, the pair remains below the MA (200) H4 (1.0620). Technically speaking, the strong resistance level at 1.0595 may keep prices from further growth. In case it is broken, the pair could rise to 1.0640. The lower boundary of 1.0480 represents a strong support level.
⦁ Resistance levels are: 1.0595, 1 0640, 1.0675
⦁ Support levels are: 1.0520, 1.0480-95, 1.0440-50
The main scenario for the pair suggests a break of support at 1.0520 (Oct 18 low) and there could be a decline to 1.0480-95 (Oct 6 and 13 lows).
The alternative scenario implies a breakout of the MA (200) H1 (1.0565) and resistance at 1.0595 (Oct 17-18 high) and may be a rise to 1.0640 (Oct 12 high).
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