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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 1.0725-55 - slightly above the 6-week low of 1.0670 reached on Friday. On the hourly chart, the pair tests the moving average line MA (200) H1 (1.0755) and on the four-hour chart remains below MA (200) H4 (1.0810). Technically speaking, the resistance of 1.0760 may keep EUR/USD from further growth. If this level is broken, the pair may rise to 1.0820 and then to 1.0850. The lower bound of 1.0670 represents a strong support level.
⦁ Resistance levels are: 1.0760, 1.0820, 1.0850
⦁ Support levels are: 1.0710, 1.0670, 1.0640
The main scenario for the pair's promotion assumes a breakout of support at 1.0610 (June 18 low) and may be a decline to 1.0670 (May 14 low)
An alternative scenario implies a breakout of the resistance of 1.0760 (June 18 high) and there may be an increase to 1.0820 (June 13 high) and then to 1.0850 (June 12 high).
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