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- The EUR/USD slightly rose
The EUR/USD slightly rose
Yesterday, the EUR/USD traded in different directions in the range of 1.0800-1.0835 and closed the day without significant changes. Today, it rose slightly, rising to 1.0830. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0855). On the four-hour chart, the situation is similar. 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 for selling to form a correction.
- Resistance levels are at: 1.0835-40, 1.0870, 1.0895-00
- Support levels are at: 1.0800, 1.0780, 1.0755
Probably, the main scenario is a continuation of the decline to 1.0800 (Jul 30 low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0935 (Jul 18 high).
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