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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is trading in the range of 1.0805-50 and is testing the MA (200) H1 moving average line (1.0825). The hourly chart of the EUR/USD currency pair shows a downward trend with an attempt at corrective growth. The price tested the resistance level of 1.08500, but failed to gain a foothold above and began to decline. The nearest support level is located at 1.0805, and its breakdown may lead to a further decline to the area of 1.0765 and below. The MACD indicator is in the positive zone, but its values are decreasing, which may signal a possible continuation of the downward movement. The overall picture remains bearish, but short-term upward pullbacks are possible.
Resistance levels are: 1.0850-60, 1.0915, 1.0955
Support levels are: 1.0805, 1.0765, 1.0730
The main scenario for the pair's advance implies a breakout of 1.0850-60 (March 21-24 highs, session high) and there may be an increase to 1.0915 (March 20 high)
An alternative scenario suggests a breakout of the session low of 1.0805 and a possible decline to 1.0765 (March 28 low)
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