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- EUR/USD dropped below the MA 200 H1
EUR/USD dropped below the MA 200 H1
Yesterday, the EUR/USD pair mostly declined in the range of 1.0275-1.0360, but closed the session in positive territory near the price of 1.0320. Today, the pair started trading in a narrow range - near the closing level of yesterday's session. On the hourly chart, EUR/USD dropped below the MA (200) H1 (1.0360) moving average line, but remains below MA (200) H4 (1.0465) on the four-hour chart. Based on the above, it is probably worth following the southern direction in trading and as long as the pair remains below the MA 200 H1, it is necessary to look for entry points to sell at the end of the correction.
Resistance levels are at: 1.0360, 1.0440-60, 1.0540
Support levels are at: 1.0275, 1.0225, 0.9935
The main scenario for the pair's advance suggests a breakout of the support 1.0275 (Jan 8 low) and a possible decline to 1.0225 (Jan 2 low)
An alternative scenario implies a breakout of the resistance 1.0360 (Jan 8 high) and there may be an increase to 1.0440-60 (Dec 30 and Jan 6 highs).
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