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- The EUR/USD remains below MA 200 H1
The EUR/USD remains below MA 200 H1
Yesterday, the EUR/USD traded mixed in the range of 1.0475-1.0525 and closed the day without significant changes. Today, the pair has grown slightly, rising to 1.0530. On the hourly chart, EUR/USD is testing the resistance - the moving average line MA (200) H1 (1.0525). On the four-hour chart, the pair still remains below the MA 200 H4 line. 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 sale at the end of the correction.
- Resistance levels are at: 1.0530, 1.0565, 1.0590
- Support levels are at: 1.0475, 1.0455, 1.0425
Probably, the main scenario is a continuation of the decline to 1.0475 (Dec 16 low).
The alternative scenario is consolidation above MA 200 H1, with subsequent growth to 1.0630 (Dec 6 high).
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