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- The EUR/USD remains below MA 200 H1
The EUR/USD remains below MA 200 H1
Yesterday, the EUR/USD traded lower and closed the day in the red zone around the price of 1.0840. Today it was trading in a narrow range of 1.0835-45, remaining close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0890). On the four-hour chart, the pair still remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
- Resistances levels are at: 1.0865, 1.0895-00, 1.0915
- Support levels are at: 1.0820-25, 1.0800-15, 1.0780
Probably, the main scenario is a continued decline to 1.0825 (Jul 24 low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0945 (Jul 17 high).
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