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- EUR/USD consolidated above MA (200) H1
EUR/USD consolidated above MA (200) H1
Today, since the start of trading, the EUR/USD pair has declined from $1.0730 to $1.0680, but during the European session it regained all the lost positions. The pair is trading near the monthly high of $1.0750 reached yesterday. On the hourly chart, the pair is fixed above the moving average line MA (200) H1 ($1.0625) and on the four-hour chart it is testing MA (200) H4 ($1.0705). Technically speaking, the resistance of $1.0750 may keep prices from rising further. The lower bound of $1.0650 represents the support level.
⦁ Resistance levels are: $1.0750, $1.0805, $1.0940
⦁ Support levels are: $1.0680, $1.0650, $1.0575
The main scenario of the pair's promotion assumes a breakout of the resistance of $1.0750 (March 13 high) and there may be an increase to $1.0805 (February 14 high).
An alternative scenario implies a session low of $1.0680, there may be a decline to $1.0650 (March 13 low).
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