EUR/USD
The EUR/USD up, staying above MA 200 H1
On Friday, the EUR/USD was trading lower and closed the day in the red zone near the price of $1.0830. Today it, on the contrary, grew a little, having risen to the level of $1.0875. On the hourly chart EUR/USD is still trading above the moving average line MA (200) H1 ($1.0690). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the EUR/USD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistances levels are at: $1.0875, $1.0935, $1.0990
- Support levels are at: $1.0780, $1.0750, $1.0710-25
Probably, the main scenario is continued growth to $1.0875 (session high).
The alternative scenario is consolidation below MA 200 H1, followed by decline to $1.0480 (Jan 6 low).
