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- EUR/USD remains above the MA (200) Н1
EUR/USD remains above the MA (200) Н1
The EUR/USD pair is mostly down today from 1.0720 to 1.0680, after hitting a 5-week high of 1.0755 on Monday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0650). On the four-hour chart, the situation is similar. Technically speaking, the strong support level of 1.0615 may keep prices from further decline. In case of its breakdown, the pair may fall to 1.0520. The upper boundary of 1.0770 represents a strong resistance level.
⦁ Resistance levels are: 1.0720, 1.0755-70, 1 0885
⦁ Support levels are: 1.0650-60, 1.0615, 1.0520
The main scenario for the pair suggests a break of resistance at 1.0720 (Nov 8 high, session high) and a possible rise to 1.0755-70 (Sept 12 and Nov 6 highs).
The alternative scenario implies a break of yesterday's low of 1.0660 and H1 MA (200) (1.0650) and could be a decline to 1.0615 (Nov 3 low).
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