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- The EUR/USD remains above MA 200 H1
The EUR/USD remains above MA 200 H1
Yesterday, the EUR/USD traded higher and closed the day in the positive territory around the price of 1.0785. Today it was trading in a narrow range of 1.0785-95, remaining close to yesterday's closing price. On the hourly chart, EUR/USD is trading above the moving average line MA (200) H1 (1.0725). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above the MA 200 H1, may be need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 1.0815, 1.0850-60, 1.0900
- Support levels are at: 1.0755, 1.0735, 1.0710
Probably, the main scenario is a resumption of growth to 1.0815 (Jul 3 high).
The alternative scenario is consolidation below MA 200 H1, followed by a decline to 1.0665 (Jun 26 low).
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