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- EUR/USD is testing the resistance of MA 200 H1.
EUR/USD is testing the resistance of MA 200 H1.
Yesterday, the EUR/USD pair traded in different directions and closed the day in positive territory near the price of $1.0200. Today, the pair is trading mainly with an increase in the range of $1.0190-25, remaining near yesterday's closing price. On the hourly chart, EUR/USD is testing the resistance - the moving average line MA (200) H1 ($1.0190) for strength. On the four-hour chart, the pair remains below the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it is necessary to look for entry points to sell at the end of the correction.
Resistances levels are at: $1.0235, $1.0280, $1.0325
Support levels are at: $1.0080-95, $1.0040, $1.0005
The main scenario for the pair's promotion is that the pair may decline to $1.0080—95 (July 18 and 27 lows).
The alternative scenario implies a breakout of the resistance of $1.0235 (July 28 high), followed by an increase to $1.0280 (July 21 high).
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