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- EUR/USD remains below MA (200) H1
EUR/USD remains below MA (200) H1
The EUR/USD pair is showing a steady downward movement on the hourly chart, remaining below the MA (200) H1 moving average (1.1275), which continues to decline, acting as an important resistance zone. At the moment, the price is consolidating near the 1.1100 level, demonstrating weak attempts at corrective recovery, but the overall mood remains bearish. The MACD indicator is in the negative zone, which confirms the presence of a downward momentum, although the histogram shows signs of a possible local correction or consolidation phase. The overall picture remains bearish as long as the price remains below 1.12000 and the moving average.
Resistance levels are: 1.1145, 1.1200, 1.1275-95
Support levels are: 1.1065, 1.0890, 1.0785
The main scenario for the pair's advance implies a breakout of support at 1.1065 (May 12 low) and a possible decline to 1.0890 (April 8 low)
An alternative scenario assumes a breakout of the resistance of 1.1145 (high of the American session on May 12) and there may be an increase to 1.1195 (May 9 low)
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