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- EUR/USD remains above MA (200) H1.
EUR/USD remains above MA (200) H1.
Today, the EUR/USD pair is trading in the range of 1.0910-30 after rising last week to a 7-month high of 1.0010. On the hourly chart, the pair remains above the moving average line MA (200) H1 (1.0890) and on the four-hour chart above MA (200) H4 (1.0845). In this situation, the EUR/USD pair growth scenario is likely. Technically speaking, the support of 1.0880 can keep EUR/USD from further decline. In case of breaking through this level, the pair may fall to 1.0780. The upper limit of 1.0010 represents a strong resistance level.
⦁ Resistance levels are: 1.0965, 1.0010, 1.1085
⦁ Support levels are: 1.0880-90, 1.0780, 1.0710
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.0945 (Aug 8 high) and there may be an increase to 1.0010 (Aug 5 high)
An alternative scenario implies a breakout of support at 1.0880-90 (Aug 8 low, MA (200) H1) and 1.0825 (July 24 low) and there may be a decrease to 1.0780 (July 25-29 low)
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