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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
Today, the EUR/USD pair is trading in the range of 1.0460-95. It was in a downward trend from the beginning of trading, but then it turned around and began an upward movement. Currently, the price is testing and fluctuating above MA (200) H1 (1.0470), which indicates a possible continuation of growth. On the four-hour chart, the pair is trading above MA (200) H4 (1.0395). If the price stays above MA (200) H1 and breaks through the level of 1.0530, further growth is possible. In case of a breakdown of the 1.0450 support, we can expect a decline to 1.0400 and below. The current situation is neutral with potential for growth. It is recommended to monitor the price reaction at key levels.
Resistance levels are: 1.0530, 1.0595, 1.0630
Support levels are: 1.0450, 1.0400, 1.0370
The main scenario for the pair's advance assumes an increase of 1.0530 (Feb 24 and 26 high) and there may be an increase to 1.0595 (Dec 6 high).
An alternative scenario implies a breakout of the support 1.0450 (Feb 21 low) and there may be a decline to 1.0400 (Feb 19 low)
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