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- EUR/USD is declining and may test the strength of MA (200) H1
EUR/USD is declining and may test the strength of MA (200) H1
The EUR/USD pair is mainly declining from 1.0915 to 1.0860, having lost some of the positions gained on Friday. The pair remains slightly below the new 2-month high of 1.0915 reached at the beginning of trading. On the hourly chart, the pair can test the strength of the moving average line MA (200) H1 (1.08445), but on the four-hour chart it remains above MA (200) H4 (1.0700). Technically speaking, the support of 1.0830 can keep EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0790. The upper limit of 1.0915 represents a strong resistance level.
⦁ Resistance levels are: 1.0915, 1.0940, 1.0980
⦁ Support levels are: 1.0830, 1.0790, 1.0760
The main scenario for the pair's promotion assumes a correction and growth to the session maximum of 1.0915, and then there may be an increase to 1.0940 (March 21 high)
An alternative scenario implies a breakout of support at 1.0830 (June 3 low) and may be a decline to 1.0790 (May 30 low).
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