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- EUR/USD pair remains below MA (200) H1
EUR/USD pair remains below MA (200) H1
Today, the EUR/US pair is trading in the range of $1.1575-95 and remains below the MA (200) H1 moving average line ($1.1610) on the hourly chart. On the four-hour chart, the pair is trading below MA (200) H4 ($1.1625). Technically speaking, the resistance of $1.1610-15 may keep prices from further growth. If it breaks through, prices may soar to $1.1665. The lower bound of $1.1575 represents the support level. If this level is passed, the pair may follow a correction to $1.1525-35. The most likely range of the pair's movement for today may be hidden within the range of $1.1575-$1.1615.
⦁ Resistance levels are: $1.1610-15, $1.1665, $1.1690
⦁ Support levels are: $1.1575, $1.1525-35, $1.1505
The main scenario for promoting the pair — support breakthrough of $1.1575 (November 2 low, session minimum) and there may be a decline to $1.1525-35 (October 12-13 and 29 lows)
An alternative scenario — if the resistance of $1.1610-15 (November 2 high, MA (200) H1) is broken, then the pair may rise to $1.1665 (October 25 high)
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