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- EUR/USD declines and tests MA (200) H1
EUR/USD declines and tests MA (200) H1
Today, the EUR/USD pair is mainly declining from 1.0405 to 1.0355 and is testing the MA (200) H1 moving average line (1.0390) on the hourly chart. On the four-hour chart, the pair is also testing MA (200) H4 (1.0365). Based on the above, it is probably worth sticking to the northern direction in trading and until the pair is fixed below the MA 200 H1, it is necessary to look for entry points to buy. Technically speaking, the 1.0320 support may keep EUR/USD from further decline. The upper limit of 1.0440 represents a strong resistance level.
Resistance levels are: 1.0405, 1.0440, 1.0470
Support levels are: 1.0320, 1.0275, 1.0210
The main scenario for the pair's advance suggests an increase to the session high of 1.0405 and then maybe to 1.0440 (Feb 5 high).
An alternative scenario implies a breakout of support at 1.0320 (the low of the American session on Feb 4) and a possible decline to 1.0275 (Feb 4 low)
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