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- EUR/USD remains above MA (200) H1
EUR/USD remains above MA (200) H1
Today, the EUR/USD pair is mainly declining from 1.0485 to 1.0450, further retreating from the 3-week high of 1.0515 reached on Friday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0400) and 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 H1, it is necessary to look for entry points to buy. Technically speaking, the 1.0450 support may keep EUR/USD from falling further. The upper limit of 1.0535 represents a strong resistance level.
Resistance levels are: 1.0515-35, 1.0595, 1.0630
Support levels are: 1.0450, 1.0375-1.0400, 1.0320
The main scenario for the pair's advance assumes a breakout of the area 1.0515-35 (Jan 24-27 and Feb 14 highs) and there may be an increase to 1.0595 (Dec 9 high).
An alternative scenario implies a breakout of the support 1.0450 (Feb 14 low) and there may be a decline to 1.0375-1.0400 (Feb 13 low, MA (200) H1)
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