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- EUR/USD remains above MA (200) H1
EUR/USD remains above MA (200) H1
Today, the EUR/USD pair is trading in different directions: since the beginning of trading, it has grown from 1.0460 to 1.0530, reaching an 11-week high, but soon decreased to 1.0465, losing all the gained positions. On the hourly chart, the pair remains slightly above the MA (200) H1 moving average line (1.0450) and above MA (200) H4 (1.0380) 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 resistance of 1.0530 has kept EUR/USD from further growth so far. The lower limit of 1.0400 represents a strong support level.
Resistance levels are: 1.0530, 1.0595, 1.0630
Support levels are: 1.0450, 1.0400, 1.0375
The main scenario for the pair's advance suggests a breakout of the session high of 1.0530 and there may be an increase to 1.0595 (Dec 6 high).
An alternative scenario implies a breakout of the support 1.0450 (Feb 21 low, MA (200) H1) and there may be a decline to 1.0400 (Feb 19 low)
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