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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 mixed in the range of 1.0905-1.0935 and closed the day without significant changes. Today, it has grown slightly, rising to 1.0935. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 (1.0865). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 1.0960, 1.1005, 1.1040
- Support levels are at: 1.0895-05, 1.0815, 1.0775-85
Probably, the main scenario is continued growth to 1.0960 (Aug 6 high).
The alternative scenario is consolidation below MA 200 H1, followed by a decline to 1.0775 (Aug 1 low).
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