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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is trading in a wide range of 1.1125-80 after reaching a monthly high of 1.1215 this week. On the hourly chart, the pair is testing the moving average line MA (200) H1 (1.1145), but on the four-hour chart it remains above MA (200) H4 (1.1095). Technically speaking, the resistance of 1.1215 is still keeping EUR/USD from further growth. If this level is passed, the pair may rise to 1.1240. The lower bound of 1.1070 represents a strong support level. The most likely range of movement of the pair for today may be hidden within the existing range of 1.1120-90.
⦁ Resistance levels are: 1.1190, 1.1215, 1.1240
⦁ Support levels are: 1.1120, 1.1070-85, 1.1000
The main scenario for the pair's promotion assumes a breakout of resistance at 1.1190 (Sept 26 high) and may be an increase to 1.1215 (Sept 25 high)
An alternative scenario implies a breakout of support at 1.1120 (Sept 25 low) and there may be a decrease to 1.1070-85 (Sept 13, 19 and 23 lows).
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