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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 1.0375-1.0400 and is testing the MA (200) H1 moving average line (1.0380) on the hourly chart. On the four-hour chart, the pair is trading slightly above 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 1.0350 support may keep EUR/USD from falling further. The upper limit of 1.0440 represents a strong resistance level.
Resistance levels are: 1.0400, 1.0440, 1.0470
Support levels are: 1.0350, 1.0275, 1.0210
The main scenario for the pair's advance suggests an increase to the session high of 1.0400 and then maybe to 1.0440 (Feb 5 high).
An alternative scenario implies a breakout of support at 1.0350 (Feb 4 low) and a possible decline to 1.0275 (Feb 4 low)
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