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- EUR/USD remains above the MA (200) H1.
EUR/USD remains above the MA (200) H1.
The EUR/USD pair is trading in the 1.0790-1.0820 range today after rising yesterday to a 2-week high of 1.0840. On the hourly chart, the pair remains slightly above the MA (200) H1 (1.0765) moving average line, but on the four-hour chart it is trading below the MA (200) H4 (1.0845). Technically speaking, the resistance level at 1.0840 may keep prices from rising further. In case it is broken, the pair may rise to 1.0900. The lower boundary of 1.0695 represents a strong support level.
⦁ Resistance levels are: 1.0810, 1.0900, 1.0930
⦁ Support levels are: 1.0760, 1.0730, 1.0695
The main scenario for the pair suggests a break of support at 1.0760-65 (Feb 19-20 low, MA (200) H1) and may be a decline to 1.0730 (Feb 16 low)
The alternative scenario implies a break of resistance at 1.0840 (Feb 20 high) and there could be a rise to 1.0900 (Jan 25 and Feb 2 high).
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