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- EUR/USD is declining and testing MA (200) H1
EUR/USD is declining and testing MA (200) H1
Today, the EUR/USD pair is trading mainly with a decline from $0.9855 to $0.9755 after rising yesterday to a weekly high of $0.9545. On the hourly chart, the pair is testing the MA (200) H1 moving average line ($0.9760). On the four-hour chart, the pair remains below MA (200) H4 ($0.9950). Technically speaking, the support of $0.9635 can keep prices from further decline. The upper limit of $0.9910 represents the resistance level.
⦁ Resistance levels are: $0.9855, $0.9910, $0.9975
⦁ Support levels are: $0.9635, $0.9535, $0.9500
The main scenario of the pair's promotion assumes a breakout of the support of $0.9635 (September 29 low), followed by a likely decline to $0.9535 (September 28 low)
An alternative scenario is a breakout of the resistance of $0.9855 (September 23 high, session maximum) and there may be an increase to $0.9910 (September 22 high)
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