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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is mainly declining from 1.0720 to 1.0680 and is testing the MA (200) H1 (1.0720) moving average line on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 (1.0800). The pair is once again approaching the 6-week low of 1.0670, recorded earlier last week. Technically speaking, the support of 1.0670 may keep EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0640. The upper bound of 1.0760 represents a strong resistance level.
⦁ 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 breakout of support at 1.0670 (June 14 and 21 low) and may be a decline 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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