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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 1.0975-95, having regained some of the positions lost yesterday. Yesterday, the pair dropped to 1.0950. Note that EUR/USD is trading slightly below the maximum value since the beginning of the year of 1.1050, reached this week. On the hourly chart, the pair remains above the moving average line MA (200) H1 (1.0950) and on the four-hour chart above MA (200) H4 (1.0880). In this situation, a scenario of further growth of the EUR/USD pair is likely. Technically speaking, the resistance of 1.1050 may keep EUR/USD from further growth. The lower bound of 1.0880 represents a strong support level.
⦁ Resistance levels are: 1.1020, 1.1050, 1.1085
⦁ Support levels are: 1.0950, 1.0880, 1.0825
The main scenario for the pair's promotion assumes an increase to 1.1020 (Aug 15 high) and then, maybe, to 1.1050 (Aug 14 high)
An alternative scenario implies a breakout of support at 1.0950 (Aug 15 low, MA (200) H1) followed by a likely decline to 1.0880 (Aug 8 low)
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