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- EUR /USD is growing and testing MA (200) H1
EUR /USD is growing and testing MA (200) H1
Today, the EUR/USD pair is mainly growing in the range of 1.1075-1.1105 and is testing the MA (200) H1 (1.1105) moving average line on the hourly chart. The pair retreated from the 2-week low of 1.1025 reached at the beginning of the week. On the four-hour chart, H4 (1.0980) remains above MA (200). Technically speaking, the support of 1.1025 has so far kept EUR/USD from further decline. If this level is passed, the pair may fall to 1.0950. The upper limit of 1.1200 represents a strong resistance level.
⦁ Resistance levels are: 1.1140, 1.1200, 1.1240
⦁ Support levels are: 1.1025, 1.0950, 1.0880
The main scenario for the pair's promotion assumes a breakout of resistance 1.1140 (Aug 29 high) and there may be an increase to 1.1200 (Aug 23-26 high)
An alternative scenario implies a breakout of support at 1.1025 (Sep 3 low) followed by a likely decline to 1.0950 (Aug 15 low)
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