EUR/USD is testing MA (200) H1

Today, the EUR/USD pair is trading in the range of 1.0790-1.0830 and is testing the moving average line MA (200) H1 (1.0810). The pair shows continued selling pressure on the hourly chart, despite attempts at a short-term recovery. The price continues to trade below the 200-period moving average, which plays the role of a dynamic resistance level, confirming the dominance of the bearish trend. After a local rebound near the level of 1.0765, the quotes tested the resistance of 1.0830, but could not overcome it and rolled back down again, indicating the weakness of buyers. The MACD indicator shows neutral signals with a slight decrease in the histogram, which indicates a possible consolidation before further movement. The nearest support is at 1.0785, its breakdown will increase the pressure and open the way to 1.0765. The resistance zones are 1.0830 and 1.0850. The technical picture is still tilted in favor of sellers until the price is fixed above 1.08500.

Resistance levels are: 1.0830, 1.0850-60, 1.0915

Support levels are: 1.0765-85, 1.0730, 1.0680

The main scenario for the pair's advance implies a breakout of the session high of 1.0830 and there may be an increase to 1.0850-60 (March 21-24 and 31 highs) 

An alternative scenario assumes a breakout of the area 1.0765-85 (March 28-31 lows) and there may be a decline to 1.0730 (March 27 low)