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- The EUR/USD continues to test the MA 200 H1
The EUR/USD continues to test the MA 200 H1
Yesterday, the EUR/USD traded higher and closed the day in the positive territory around the price of 1.0735. Today, on the contrary, the pair fell a little, dropping to the level of 1.0730. On the hourly chart, EUR/USD is still testing the moving average line MA (200) H1 (1.0715). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H4, it may be necessary to look for entry points to sell at the end of the correction.
- Resistances levels are at: 1.0770-75, 1.0815, 1.0850-60
- Support levels are at: 1.0720, 1.0685-95, 1.0665
Probably, the main scenario is a resumption of decline towards 1.0720 (Jul 1 low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0815 (Jun 13 high).
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