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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 the range of 1.0795-1.0825 and is testing the strength of the MA (200) H1 (1.0820) moving average line on the hourly chart. The pair retreated slightly from the 3-month low of 1.0760 reached earlier last week. On the four-hour chart, EUR/USD remains below MA (200) H4 (1.0995). Technically speaking, the resistance of 1.0840 may keep EUR/USD from further growth. If this level is passed, the pair may rise to 1.0875. The lower bound of 1.0760 represents a strong support level.
⦁ Resistance levels are: 1.0840, 1.0875, 1.0920
⦁ Support levels are: 1.0760, 1.0710, 1.0665
The main scenario for the pair's promotion assumes a breakout of support at 1.0760 (Oct 23 low) and may be a decline to 1.0710 (Jul 1 low)
An alternative scenario implies a breakout of the resistance of 1.0840 (Oct 22 and 25 high) and there may be an increase of 1.0875 (Oct 18-21 high)
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