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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
The EUR/USD pair is mainly growing during the European session from 1.0810 to 1.0850 after a slight decline since the beginning of trading. On the hourly chart, the pair is testing the moving average line MA (200) H1 (1.0840), but on the four-hour chart it remains above MA (200) H4 (1.0765). Technically speaking, the resistance of 1.0860 may keep EUR/USD from further growth. If it breaks through, the pair may rise to 1.0895. The lower bound of 1.0790 represents a strong support level.
⦁ Resistance levels are: 1.0860, 1.0890-95, 1.0940
⦁ Support levels are: 1.0790, 1.0760, 1.0725
The main scenario of the pair's advance assumes a breakout of resistance of 1.0860 (May 29 high) and there may be an increase to 1.0890-95 (May 16 and 28 highs)
An alternative scenario implies a breakout of support at 1.0790 (May 30 low) and may be a decline to 1.0760 (May 10 low).
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