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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
There is a steady upward trend on the EUR/USD hourly chart today. After correcting from the 1.1575 level, the pair reached support near 1.13900 and began an upward rebound, testing the MA (200) H1 moving average (1.1390) as support, which may indicate a resumption of the upward movement.
The nearest resistance is located at 1.1475. A breakdown of this level will pave the way for a retest of the local maximum of 1.1575. Support is in the area of 1.13900, followed by 1.12600 and 1.1145. The MACD indicator shows the beginning of recovery: the histogram begins to grow upward, and there is a convergence of signal lines, which indicates a possible reversal towards purchases. In general, as long as the price remains above the MA (200) and the MACD begins to turn up, a continuation of growth is likely. However, an important confirmation will be the breakdown of the 1.1475 level on increased volumes.
Resistance levels are: 1.1475, 1.1575, 1.1620
Support levels are: 1.1260, 1.1145, 1.0890
The main scenario for the pair's advance implies a breakout of resistance at 1.1475 (April 11 high) and an increase towards 1.1575 (April 21 high).
An alternative scenario suggests a breakout of support at 1.1260 (April 15 low) and a possible decline to 1.1145 (April 3 high)
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