Yesterday the EUR/USD traded lower and closed the day in the red zone near the price of $1.0725. Today it, on the contrary, rose a little, having risen to the level of $1.0735. At the same time, on the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 ($1.0800). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the EUR/USD remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: $1.0765, $1.0800, $1.0820-30
Support levels are at: $1.0705-10, $1.0615-30, $1.0550
Probably, the main scenario is a renewed decline towards $1.0710 (May 25 low).
The alternative scenario is consolidation above MA 200 H1, followed by a rise to $1.0905 (May 16 high).
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