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- EUR/USD dropped below MA (200) H1
EUR/USD dropped below MA (200) H1
On Friday, the EUR/USD pair mostly declined from 1.0410 to 1.0305 and closed the session near the price of 1.0320. Today, the pair started trading in the range of 1.0285-1.0230, slightly below Friday's closing level. On the hourly chart, EUR/USD dropped below the moving average line of MA (200) H1 (1.0370) and on the four-hour chart below MA (200) H4 (1.0365). 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 H4, it is necessary to look for entry points to sell at the end of the correction.
Resistance levels are at: 1.0370, 1.0410, 1.0440
Support levels are at: 1.0275, 1.0210, 1.0180
The main scenario for the pair's advance suggests a breakout of the support 1.0275 (Feb 4 low) and there may be a decline to 1.0210 (Feb 3 low).
An alternative scenario implies a breakout of MA (200) H1 (1.0370) and there may be an increase to 1.0410 (Feb 7 high)
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