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- EUR/USD remains above MA (100) H1
EUR/USD remains above MA (100) H1
Today, the EUR/USD pair is mainly growing in the range of 1.0830-1.0915. There is an uptrend on the hourly chart. The price has confidently broken through several resistance levels and continues to move upward, despite the recent correction. The pair is trading above the MA (200) H1 moving average line (1.0805), which confirms the presence of bullish momentum. The MACD indicator shows a weakening of the upward momentum, but the recent increase in the histogram may signal a resumption of purchases. The current trend remains upward, but a short-term consolidation is possible before further growth. It is important to monitor the price's reaction to the 1.0950 level – its breakdown will open the way to new highs.
Resistance levels are: 1.0950, 1.1000, 1.1050
Support levels are: 1.0805-20, 1.0765, 1.0675
The main scenario for the pair's advance implies a breakout of resistance at 1.0950 (Oct 10-22 and March 11 highs) and there may be an increase to 1.1000 (Oct 8 high)
An alternative scenario assumes a breakout of the support 1.0805-20 (March 10 and 13 lows, MA (200) H1) and there may be a decline to 1.0765 (March 6 low)
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