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- EUR/USD remains below the MA (200) Н1.
EUR/USD remains below the MA (200) Н1.
The EUR/USD pair is trading in the 1.0760-85 range today, after dropping this week to a 2-month low of 1.7020. On the hourly chart, the pair remains below the MA (200) H1 (1.0995) moving average line. On the four-hour chart, EUR/USD is trading below the MA (200) H4 (1.0900). Technically speaking, the support level of 1.0720 may keep prices from declining. In case it is broken, the pair may fall to 1.0655. The upper boundary of 1.0900 represents a strong resistance level.
⦁ Resistance levels are: 1.0790-95, 1.0900, 1.0930
⦁ Support levels are: 1.0720-40, 1.0655, 1.0520
The main scenario for the pair suggests a break of 1.0720-40 support (Dec 8 and Feb 5-6 and 8 lows) and there could be a decline to 1.0655 (Nov 10 low).
The alternative scenario implies a break of 1.0790-95 (Feb 8 high, H1 MA (200)) and there could be a rise to 1.0900 (Jan 25 and Feb 2 highs).
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