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- EUR/USD is trading slightly above the MA (200) H1.
EUR/USD is trading slightly above the MA (200) H1.
Today the EUR/USD pair is mostly rising from 1.0615 to 1.0650 and on the hourly chart it has risen slightly above the MA (200) H1 moving average (1.0590). On the four-hour chart, the situation is similar. Technically speaking, the strong resistance level of 1.0695 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.0740. The lower boundary of 1.0520 represents a strong support level.
⦁ Resistance levels are: 1.0675-95, 1 0740, 1.0770
⦁ Support levels are: 1.0590, 1.0520, 1.0480-95
The main scenario for the pair suggests a break of the MA (200) H1 (1.0590) and maybe a decline to 1.0520 (Nov 1 low).
The alternative scenario implies a rise to 1.0675-95 (Oct 24 and 31 highs) and then, maybe, to 1.0740 (Sep 20 high).
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