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- The EUR/USD remains below MA 200 H1
The EUR/USD remains below MA 200 H1
On Friday, the EUR/USD traded lower and closed the day in the red zone around 1.0415. Today it also rose slightly, rising to 1.0500. On the hourly chart, EUR/USD is still trading below the MA (200) H1 moving average line (1.0545). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points for selling to form a correction.
- Resistance levels are at: 1.0545-55, 1.0610, 1.0655
- Support levels are at: 1.0395, 1.0335, 1.0290
Probably, the main scenario is a continuation of the decline to 1.0395 (low of the American session on Nov 22).
The alternative scenario is final consolidation above MA 200 H1, with subsequent growth to 1.0655 (Nov 13 high).
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