Yesterday the EUR/USD traded higher and closed the day in positive territory near the price of $1.0565. Today it was trading in a narrow range of $1.0555-80, staying close to yesterday's closing price. On the hourly chart, EUR/USD is testing resistance - the moving average line MA (200) H1 ($1.0490). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the EUR/USD remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
Resistances levels are at: $1.0605, $1.0640, $1.0665
Support levels are at: $1.0470, $1.0445, $1.0385
Probably, the main scenario is continued decline towards $1.0470 (Jun 22 low).
Alternative scenario is consolidation above MA 200 H1, followed by a rise to $1.0775 (Jun 9 high).
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