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- EUR/USD is declining, but remains above MA (200) H1.
EUR/USD is declining, but remains above MA (200) H1.
Today, the EUR/USD pair is mainly declining from 1.0965 to 1.0905 after rising yesterday to a 7-month high of 1.0010. On the hourly chart, the pair remains above the moving average line MA (200) H1 (1.0855) and on the four-hour chart above MA (200) H4 (1.0820). Technically speaking, the support of 1.0890 can keep EUR/USD from further growth. In case of breaking through this level, the pair may fall to 1.0780. The upper limit of 1.10 represents a strong resistance level.
⦁ Resistance levels are: 1.0965, 1.0010, 1.1085
⦁ Support levels are: 1.0890, 1.0855, 1.0780
The main scenario for the pair's promotion assumes an increase to the seasonal maximum of 1.0965 and beyond that, maybe to 1.0010 (Aug 5 high)
An alternative scenario implies a breakout of support at 1.0890 (Aug 5 low) and MA (200) H1(1.0855) and there may be a decrease to 1.0780 (July 25-29 low).
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