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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 1.0720-45 and is testing the MA (200) H1 moving average line (1.0725) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 (1.0805). Technically speaking, the resistance of 1.0760 may keep EUR/USD from further growth. If this level is broken, the pair may rise to 1.0850. The lower bound of 1.0670 represents a strong support level, if it breaks through, the pair may fall to 1.0640.
⦁ Resistance levels are: 1.0760, 1.0820, 1.0850
⦁ Support levels are: 1.0670, 1.0640-50, 1.0600
The main scenario for the pair's promotion assumes a decline to 1.0670 (June 14 and 21 low) and then, maybe, to 1.0640-50 (April 23 and May 1 lows)
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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