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- EUR/USD is trading near a 3-year high
EUR/USD is trading near a 3-year high
Today, there is a steady upward movement on the hourly chart of EUR/USD, which began in early April. The pair is mainly growing in the range of 1.1320-1.1425, approaching the 3-year high of 1.1470 reached last week. The MA (200) H1 moving average (1.1045) is confidently pointing upwards and is well below current prices, confirming the existence of a stable uptrend. The MACD indicator indicates a slowdown in bullish dynamics: the histogram decreases after the previous strong growth, which may signal a likely consolidation or correction in the near future. However, the histogram remains above zero for the time being, which preserves the bullish mood. Overall, the technical picture remains positive: the trend is upward, the momentum remains, but a short-term correction is possible before further growth.
Resistance levels are: 1.1470, 1.1510 1.1640
Support levels are: 1.1280, 1.1145, 1.1045
The main scenario for the pair's advance implies a breakout of the resistance of 1.1470 (April 11 high) and there may be an increase to 1.1510 (Feb 10’ 2022 high)
An alternative scenario suggests a breakout of support at 1.1280 (low of the American session on April 11) and there may be a decline to 1.1145 (April 3 high)
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