Yesterday, the EUR/USD pair traded lower and closed the day in the red zone around the price of 1.0645. Today the pair was trading in a narrow range of 1.0635-45, remaining close to the March lows. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0725). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Probably, the main scenario is a continued decline to 1.0630 (Sep 14 low).
The alternative scenario involves consolidation above MA 200 H1, followed by growth to 1.0810 (Sep 4 high).
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