EUR/USD remains in an uptrend

Today, the EUR/USD pair is trading in the range of 1.0870-1.0950 after rising yesterday to a new 5-month high of 1.0960. There is an uptrend on the hourly chart, confirmed by the price's location above the MA (200) H1 moving average line (1.0885). The price has tested the 1.0870 support level several times, but continues to hold above it, which indicates the strength of the bulls. The main resistance is at 1.0960, which the pair has not yet been able to overcome. The MACD indicator shows a weakening of the upward momentum, as the histogram decreases and approaches the zero mark. If the price breaks the 1.0870 level down, a deeper correction to 1.0820 or lower is possible. In the event of a resumption of growth and a breakdown of 1.0960, we can expect a movement to new highs. Overall, the market remains bullish, but local consolidation may turn into a correction.

Resistance levels are: 1.0960, 1.1000, 1.1050

Support levels are: 1.0870, 1.0820, 1.0765

The main scenario for the pair's advance implies a breakout of the resistance of 1.0950 (Oct 10-11 and March 18 high) and there may be an increase to 1.1000 (Oct 8 high)

An alternative scenario assumes a breakout of support at 1.0870 (March 17 low, MA (200) H1), a decline to 1.0820 (March 13 low) and then, maybe, to 1.0765 (March 6 low)