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- EUR/USD remains above MA (200) H1
EUR/USD remains above MA (200) H1
Today, the EUR/USD pair is trading in the range of $1.1400-35 - slightly below the 2-month high of $1.1485 reached at the end of last week. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.1370) and on the four-hour chart - above MA (200) H4 ($1.1320). Technically speaking, the resistance of $1.1485-90 may keep the pair from further growth. If it breaks through, prices may soar to $1.1610-20. The lower bound of $1.1400 represents the support level.
⦁ Resistance levels are: $1.1435, $1.1485-90, $1.1610-20
⦁ Support levels are: $1.1400, $1.1355-70, $1.1315
The main scenario for promoting the pair — breakout of the session high of $1.1435 and there may be an increase to $1.1485-90 (November 11 and January 13-14 highs)
An alternative scenario — support breakthrough of $1.1400 (January 14 low) and there may be a decline to $1.1355-70 (January 12 low, MA (200) H1)
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