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- EUR/USD retreated from a 9-week low
EUR/USD retreated from a 9-week low
Today, the EUR/USD pair is mainly growing from $1.0570 to $1.0630, after a sharp decline yesterday from $1.0760 to a 9-week low of $1.0515, On the hourly chart, the pair can test the strength of the MA (200) H1 moving average line ($1.0695). On the four-hour chart, EUR/USD remains below MA (200) H4 ($1.0690). Technically speaking, MA (200) H1 ($1.0695) can keep prices from further growth. The lower bound of $1.0515 represents a strong support level.
⦁ Resistance levels are: $1.0635, $1.0695, $1.0760
⦁ Support levels are: $1.0570, $1.0515, $1.0480
The main scenario of the pair's promotion assumes a breakout of the support of $1.0570 (March 10 low, session minimum) and there may be a decline to $1.0515 (March 15 low).
An alternative scenario implies a breakout of MA (200) H1 ($1.0635) and there may be an increase to $1.0760 (March 15 high).
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