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- EUR/USD remains below the MA (200) H1
EUR/USD remains below the MA (200) H1
Today the EUR/USD pair is mostly rising in the range of 1.1040-85 and on the hourly chart remains below the MA (200) H1 moving average line (1.1165). But on the four-hour chart, it is trading above the MA (200) H4 (1.0980). Technically speaking, a strong resistance level at 1.1150-65 could keep prices from rising further. If broken, EUR/USD could rise to 1.1230. The lower boundary of 1.1020 represents a support level. The pair's most likely range of movement for today may be hidden within the 1.1020-1.1150 range.
⦁ Resistance levels are: 1.1150-65, 1.1230, 1.1275
⦁ Support levels are: 1.1020, 1.0945, 1.0835
The main scenario for the pair suggests a rise to 1.1150-65 (July 24 high, H1 MA (200) and then, maybe, to 1.1230 (July 20 high).
The alternative scenario implies a break of support at 1.1020 (July 25 low) and maybe a decline to 1.0945 (July 10 low).
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