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- EUR/USD remains above the MA (200) H1
EUR/USD remains above the MA (200) H1
EUR/USD is trading in the 1.0815-30 range today after rising yesterday to a new 2-week high of 1.0890. On the hourly chart, the pair remains slightly above the MA (200) H1(1.0780) moving average line , but on the four-hour chart it is testing the MA (200) H4 (1.0835). Technically speaking, the resistance level of 1.0900 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.0930. The lower boundary of 1.0760 represents a strong support level.
⦁ Resistance levels are: 1.0900, 1.0930, 1.0970
⦁ Support levels are: 1.0790, 1.0760, 1.0730
The main scenario of the pair's advance suggests a decline to 1.0790 (Feb 21 low) and may be a decline to 1.0760 (Feb 19-20 low).
An alternative scenario implies a break of 1.0890-1.0900 resistance (Jan 25, Feb 2 and 22 highs) and there could be a rise to 1.0930 (Jan 24 high).
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