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- EUR / USD has risen sharply and is testing MA (200) H1
EUR / USD has risen sharply and is testing MA (200) H1
Today, during European trading, the EUR/USD pair rose sharply from $1.1700 to $1.1765, after falling on Thursday to a two-week low of $1.1690. On Friday, the pair traded in the range of $1.1695-1.1745 and closed the session around $1.1710. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($1.1760), while on the four-hour chart it remains slightly below MA (200) H4 ($1.1770). The $1.1770 resistance may keep EUR/USD from rising further. If it breaks through, the pair may rise to $1.1830. On the other hand, if the support of $1.1720 is broken, the pair may drop to $1.1690. The most likely range of price movement today may be hidden within the range of $1.1690-1.1770.
⦁ Resistance levels are at: $1.1770, $1.1830, $1.1870
⦁ Support levels are at: $1.1720, $1.1690, $1.1610
The main scenario for promoting the pair - if the resistance breaks $1.1770 (October 14 high, МА (200) Н4), the pair may grow to $1.1830 (October 9 high)
An alternative scenario - correction, a break in the support of $1.1720 (October 14 low), may be a decline in the pair to $1.1690 (October 15 low)
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