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- EUR/USD rose to the highs of November 2021
EUR/USD rose to the highs of November 2021
Today, on the hourly chart, the EUR/USD pair is showing a steady upward trend, reaching a maximum in early November 2021. The pair gained a foothold above the key resistance level of 1.1475 and approached the level of 1.1575, which acts as the current local maximum. The growth is accompanied by an increase in volumes and is confirmed by confident candlestick dynamics. The MA (200) H1 moving average (1.1290) is moving up, which confirms the presence of a medium-term bullish momentum. The MACD indicator also signals a growing bullish momentum: the histogram confidently moves into a positive zone, growing green bars reinforce the signal, indicating an acceleration of the upward movement.
Resistance levels are: 1.1575, 1.1620, 1.1690
Support levels are: 1.1475, 1.1335, 1.1260
The main scenario for the pair's advance implies a breakout of the session high of 1.1575 and there may be an increase to 1.1620 (Nov 1’ 2021 high)
An alternative scenario suggests a breakout of support at 1.1475 (April 11 high), a decline to 1.1335 (April 17 low) and then maybe to 1.1260 (April 15 low)
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