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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 1.0480-1.0525 after falling last week to a 2-week low of 1.0425. On the hourly chart, the pair is testing the MA (200) H1 moving average line (1.0525) and on the four-hour chart, the pair remains below MA (200) H4 (1.0605). Technically speaking, the resistance area of 1.0525-40 has so far kept EUR/USD from further growth. If this level is passed, the pair may rise to 1.0600. The lower bound of 1.0425 represents a strong support level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.0425-1.0600.
⦁ Resistance levels are: 1.0525-40, 1.0600, 1.0630
⦁ Support levels are: 1.0450, 1.0425, 1.0340
The main scenario for the pair's promotion assumes a breakout of support at 1.0450 (Dec 13 low) and may be a decline to 1.0425 (Nov 26 low)
An alternative scenario implies a breakout of resistance 1.0525-40 (Dec 11-13 highs, MA (200) H1, session high) and there may be an increase of 1.0600 (Dec 9 high)
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