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- The EUR/USD remains above MA 200 H1
The EUR/USD remains above MA 200 H1
On Friday, the EUR/USD traded lower and closed the day in the red zone around the price of 1.0770. Today it was trading in a narrow range of 1.0765-75, remaining close to Friday's closing price. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 (1.0745). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be need to look for entry points to buy at the end of the correction.
- Resistances levels are at: 1.0790, 1.0810, 1.0865
- Support levels are at: 1.0725, 1.0700, 1.0670-75
Probably, the main scenario is continued growth to 1.0790 (May 10 high).
The alternative scenario is consolidation below MA 200 H1, followed by a fall to 1.0650 (May 1 low).
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