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- EUR/USD remains below MA (200) H1
EUR/USD remains below MA (200) H1
Today, the EUR/USD pair is mainly growing in the range of 1.0735-1.0800, although there is a downward trend on the hourly chart after reaching a local maximum. The price is trading below the MA (200) H1 moving average line (1.0850), which confirms the bearish market sentiment. The nearest resistance level is at 1.0805, while support is at 1.07335. The MACD indicator indicates the weakness of sellers, as the histogram begins to increase in the positive zone, which may indicate a short-term upward pullback. However, the overall pressure remains downward, and a breakdown of the 1.0735 level may lead to a further decline to 1.0675. In case of growth, the price may test the level of 1.0850-60, but sellers are dominating so far.
Resistance levels are: 1.0805, 1.0850-60, 1.0920
Support levels are: 1.0735, 1.0675, 1.0600
The main scenario for the pair's advance implies a breakout of 1.0805 (March 26 high) and there may be an increase to 1.0850-60 (March 21-24 highs, MA (200) H1)
An alternative scenario suggests a breakout of the session low of 1.0735 (March 26 low) and there may be a decrease to 1.0675 (March 5 low).
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