Technical Analysis
19.05.2022, 03:58

The EUR/USD is still testing the MA 200 H1 resistance

Yesterday the EUR/USD traded lower and closed the day in the red zone near the price of $1.0465. Today it, on the contrary, rose a little, having risen to the level of $1.0505. On the hourly chart, EUR/USD is still testing resistance - the line of the moving average MA (200) H1 ($1.0485). On the four-hour chart, the EUR/USD is still below the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the EUR/USD remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.

  • Resistances levels are at: $1.0540, $1.0560, $1.0590-00

  • Support levels are at: $1.0460, $1.0430, $1.0390

Probably, the main scenario is continued decline towards $1.0460 (May 18 low).

Alternative scenario is fixing above MA 200 H1, followed by a rise to $1.0600 (May 6 high).

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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