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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Yesterday, the EUR/USD pair traded in different directions in the range of 1.0350-1.0405 and closed the session on a positive note near the price of 1.0385. Today, the pair started trading in the range of 1.0375-90, near the closing level of yesterday's session. On the hourly chart, EUR/USD is testing the MA (200) H1 (1.0380) moving average line and remains slightly above MA (200) H4 (1.0365) on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and as long as the pair remains above the MA 200 H4, it is necessary to look for entry points to buy at the end of the correction.
Resistance levels are at: 1.0440, 1.0470, 1.0535
Support levels are at: 1.0350, 1.0320, 1.0275
The main scenario for the pair's advance assumes a breakout of the resistance at 1.0440 (Feb 5 high) and there may be an increase to 1.0470 (Jan 30 high).
An alternative scenario implies a breakout of support at 1.0350 (Feb 6 low), a decline to 1.0320 (low of the American session on Feb 4) and then maybe to 1.0275 (Feb 4 low)
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