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- EUR/USD remains below MA (200) H1
EUR/USD remains below MA (200) H1
Today, the EUR/USD pair is showing a decline on the hourly timeframe after a prolonged uptrend that began in early March. Currently, the pair is trading in the range of 1.0775-1.0810 and is below the MA (200) H1 moving average line (1.0860), which indicates medium-term selling pressure. Local support is located around 1.0765, and the nearest resistance is at 1.0860. The MACD indicator shows a weak bearish momentum, but the histogram is near the zero level, which indicates a possible price consolidation before the next move
Resistance levels are: 1.0860, 1.0960, 1.1000
Support levels are: 1.0765, 1.0675, 1.0600
The main scenario for the pair's advance implies a breakout of 1.0860 (March 21-24 high, MA (200) H1) and there may be an increase to 1.0950 (October 10-11 and March 18 high)
An alternative scenario suggests a breakout of 1.0765 (March 6 low) and there may be a decline to 1.0675 (low of the US session March 6)
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