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- EUR/USD has dropped sharply and is testing MA (200) H1
EUR/USD has dropped sharply and is testing MA (200) H1
Today, the EUR/USD pair has sharply declined $1.0755 to $1.0585, and on the hourly chart it is testing the moving average line MA (200) H1 ($1.0640). The pair broke through the support of 1.0650 and $1.0680, which became the closest support. MA (200) H4 ($1.0700) is testing on the four-hour chart. Technically speaking, the support of $1.0575 can keep prices from further decline. The upper limit of $1.0755 represents the resistance level.
⦁ Resistance levels are: $1.0640-50, $1.0680, $1.0755
⦁ Support levels are: $1.0575, $1.0525, $1.0480
The main scenario of the pair's promotion assumes a breakout of the support of $1.0575 (March 10 low) and there may be a decline to $1.0525 (March 8 low).
An alternative scenario implies an increase to the session maximum of $1.0755.
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