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- EUR/USD remains above MA (200) H1
EUR/USD remains above MA (200) H1
Today, on the hourly chart, the EUR/USD pair is showing stabilization after rapid growth, which began with a breakdown of the 1.1145 level and peaked at 1.1470. After a sharp upward impulse on April 10-11, the price is consolidating in a narrow range above the 1.1340 level, which may indicate accumulation before a new movement. The current quote is above the MA (200) H1 moving average (1.1110), which preserves the overall uptrend. However, the MACD indicator shows a decrease in momentum: the histogram is gradually decreasing, which indicates a weakening of bullish dynamics and a possible correction or sideways movement in the short term. Thus, the current technical picture indicates a pause in the movement with the possibility of correction, however, the uptrend persists as long as the price remains above MA (200) H1 and key support levels.
Resistance levels are: 1.1430, 1.1470, 1.1510
Support levels are: 1.1250, 1.1145, 1.0890
The main scenario for the pair's advance implies a breakout of resistance at 1.1430 (April 14 high) and an increase towards 1.1470 (April 11 high).
An alternative scenario suggests a breakout of support at 1.1250 (the low of the European session on April 11) and there may be a decline to 1.1145 (April 3 high)
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