EUR/USD technical analysis for 20th January 2023 daily chart.
1
EUR/USD remains above MA 200 H1
Yesterday 19th January 2023 the EUR/USD traded higher and closed the day in the positive territory around $1.0830. Today it was trading in a narrow range of $1.0825-40, staying close to yesterday’s closing price. On the hourly chart EUR/USD is still trading above the moving average line MA (200) H1 ($1.0795). 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: $1.0885, $1.0935, $1.0990
- Support levels are at: $1.0785, $1.0765, $1.0710-25
Probably, the main scenario is continued growth towards $1.0885 (Jan 18 high).
The alternative scenario is fixing below MA 200 H1, followed by a decline to $1.0660 (the low of the American session on Jan 9).
