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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is trading in the range of 1.0725-50 after rising last week to an almost one-month high of 1.0815. On the hourly chart, the pair tests the moving average line MA (200) H1 (1.0730) and on the four-hour chart MA (200) H4 (1.0740). Technically speaking, the support level of 1.0675 may keep prices from falling further. If it breaks through, the pair may fall to 1.0640. The upper limit of 1.0815 represents a strong resistance level.
⦁ Resistance levels are: 1.0760, 1.0790, 1.0815
⦁ Support levels are: 1.0675, 1.0640-50, 1.0600
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.0760 (May 8 high) and there may be an increase to 1.0790 (May 6-7 high)
An alternative scenario implies a breakout of support at 1.0675 (May 2 low) and may be a decline to 1.0640-50 (April 23 and May 1 lows).
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