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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 declining in the range of 1.0765-1.0800. There is a downward trend on the hourly chart. The price is trading below the MA (200) H1 moving average line (1.0830), which confirms the bearish market sentiment. The MACD indicator shows negative values, which indicates continued selling pressure. However, its histogram reduces the amplitude, which may signal a possible consolidation or local correction. If the price breaks through the 1.0735 support level, a further decline towards 1.0675 is likely. In case of growth and consolidation above 1.0830, the bearish scenario will weaken, opening the way to 1.08621. In the short term, the downward momentum prevails, but the possibility of pullbacks must be taken into account.
Resistance levels are: 1.0830, 1.0860, 1.0920
Support levels are: 1.0735, 1.0675, 1.0600
The main scenario for the pair's advance implies a breakout of 1.0830 (March 25 high, МА (200) Н1) and there may be an increase to 1.0860 (March 21 high).
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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