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- The EUR/USD is testing the support of MA 200 H1
The EUR/USD is testing the support of MA 200 H1
Yesterday, the EUR/USD traded lower and closed the day in the red zone near the price of 1.1110. Today it traded in a narrow range of 1.1105-15, remaining close to yesterday's closing price. On the hourly chart, EUR/USD is testing the support for strength - the moving average line MA (200) H1 (1.1110). On the four-hour chart, the pair still remains above the MA 200 H4 line. 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 for buying at the end of the correction.
- Resistance levels are at 1.1145, 1.1180-90, 1.1225
- Support levels are at 1.1070-85, 1.1030, 1.1010
Probably, the main scenario is continued growth to 1.1145 (high of the American session on Sep 23).
The alternative scenario is consolidation below MA 200 H1, followed by a decline to 1.1000 (Sep 11 low).
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