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- EUR/USD is declining and testing the MA (200) Н1.
EUR/USD is declining and testing the MA (200) Н1.
The EUR/USD pair is mostly declining today from 1.0985 to 1.0910 after hitting a more than 3-month high of 1.1020 yesterday. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0940) and remains above the MA (200) H4 (1.0730) on the four-hour chart. Technically speaking, the support level of 1.0825 may keep prices from further decline. In case of its breakdown, the pair may drop to 1.0655. The upper boundary of 1.1020 represents a strong resistance level.
⦁ Resistance levels are: 1.1020, 1.1065, 1 1150
⦁ Support levels are: 1.0825-50, 1.0655, 1.0520
The main scenario for the pair suggests a break of resistance at 1.1020 (Nov 29 high) and a possible rise to 1.1065 (Aug 10 high)
The alternative scenario implies a break of support at 1.0825-50 (Nov 15-17 and 22 lows) and a possible decline to 1.0655 (Nov 8-10 low).
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