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- The EUR/USD remains above MA 200 H1
The EUR/USD remains above MA 200 H1
Yesterday, the EUR/USD traded lower and closed the day in the red zone near the price of 1.0905. Today, it traded in a narrow range of 1.0905-15, remaining near yesterday's closing price. On the hourly chart, EUR/USD is still trading above the moving average line MA (200) H1 (1.0885). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points for buying at the end of the correction.
- Resistance levels are at: 1.0950-55, 1.0995, 1.1035
- Support levels are at: 1.0860, 1.0825-30, 1.0805
Probably, the main scenario is continued growth to 1.0950 (Mar 18 high).
An alternative scenario implies consolidation below MA 200 H1, followed by a fall to 1.0805 (Mar 10 low).
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