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- The EUR/USD remains above MA 200 H1
The EUR/USD remains above MA 200 H1
Yesterday, the EUR/USD traded lower and closed the day in the red zone around the price of 1.0715. Today it also fell slightly, dropping to 1.0705. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 (1.0610). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 1.0755-65, 1.0800-10, 1.0880
- Support levels are at: 1.0695, 1.0640, 1.0620
Probably, the main scenario is a resumption of growth to 1.0755 (Nov 6 high).
The alternative scenario involves consolidation below MA 200 H1, followed by a decline to 1.0515 (Nov 1 low).
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