LEVEL ANALYSIS EURUSD 11 08 2020

LEVEL ANALYSIS EURUSD 11 08 2020

11 August 2020, 11:45
Aleksandra Arzyamova
0
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The EUR / USD pair was trading lower yesterday and closed the day in the red around $ 1.1735. Today the pair was trading in a narrow range of $ 1.1720-45, staying close to yesterday's closing price. On the hourly chart, EUR / USD broke through yesterday and consolidated below the MA line (200) H1 ($ 1.1800). On the four-hour chart, the pair remains above the MA 200 H4 line. Based on the foregoing, it is probably worth adhering to the south direction in trading and while the pair remains below MA 200 H1, it is necessary to look for a sell entry point to form a correction.

Resistances are at: $ 1.1790-00, $ 1.1845-50, $ 1.1900-15

Support levels are located at: $ 1.1720, $ 1.1685-95, $ 1.1640

The main scenario for the pair's advance is a continuation of the decline to $ 1.1720 (session low). An alternative scenario implies consolidation above MA 200 H1, followed by a rise to $ 1.1900 (August 5 high).

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