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- EUR/USD remains in an uptrend
EUR/USD remains in an uptrend
Today, the EUR/USD pair is mainly growing in the range of 1.0870-1.0915. There is a steady upward trend on the hourly chart. After the breakdown of the 1.0675 level, the price steadily moved up and reached local resistance at 1.0950. At the moment, the pair is consolidating in the range between the levels of 1.0870 and 1.0950. Technical indicators confirm the predominance of bullish sentiment. The price is trading above the MA (200) H1 moving average line (1.0845), which indicates the continuation of the uptrend. The MACD indicator shows signs of recovery after a period of decline, which may indicate continued growth.
If the 1.0950 level breaks, further growth of the EUR/USD pair is possible. However, in the event of a pullback, the price may test the support levels of 1.0870 and 1.0820.
Resistance levels are: 1.0915, 1.0950, 1.1000
Support levels are: 1.0870, 1.0820, 1.0765
The main scenario for the pair's advance implies a breakout of the session high of 1.0915 (March 14 high) and there may be an increase to 1.0950 (Oct 10-22 and March 11 highs)
An alternative scenario suggests a breakout of the session low of 1.0870, a decline to 1.0820 (March 13 low) and then, perhaps, to 1.0765 (March 6 low)
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