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- EUR/USD remains below MA (200) H1
EUR/USD remains below MA (200) H1
Today, the EUR/USD pair is trading mainly with an increase in the range of $1.0390-1.0435 after reaching the lowest value since the beginning of January 2017 last week ($1.0350). The pair broke through the support of $1.0470, which became the nearest resistance. On the hourly chart, EUR/USD remains below the moving average line of MA (200) H1 ($1.0510) and on the four-hour chart - significantly below MA (200) H4 ($1.0730). Technically speaking, the support of $1.0340-50 may keep prices from further decline. The upper limit of $1.0510-30 represents the resistance level.
⦁ Resistance levels are: $1.0470, $1.0510-30, $1.0600
⦁ Support levels are: $1.0340-50, $0300, $0200
The main scenario for promoting the pair — support breakout of $1.0340-50 (January 3’ 2017 low, May 13 low) and there may be a decline to the psychological level of $0300
An alternative scenario — the resistance breakout is $1.0470 (April 28 low) and there may be an increase to $1.0510-30 (May 12 high, MA (200) H1)
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