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- EUR/USD is testing MA (200) H1
EUR/USD is testing MA (200) H1
On the hourly chart, EUR/USD is trading in a sideways range between the support levels of 1.1265 and resistance levels of 1.1385. The price has repeatedly tested both levels, but without a confident breakdown, which indicates consolidation and uncertainty in the direction. The long-term moving average of MA (200) H1 is above the current price, which indicates continued bearish pressure. The latest candlesticks indicate an attempt at growth, however, the price is still below the key resistance and the moving average, which limits the bullish potential. The MACD indicator shows weak positive dynamics, but the histogram remains close to zero, which confirms the absence of a strong impulse. In general, until the pair breaks out of the range, short–term trading from the channel boundaries (1.1265 - 1.1385) remains a priority strategy.
Resistance levels are: 1.1385, 1.1440, 1.1575
Support levels are: 1.1265, 1.1145, 1.1095
The main scenario for the pair's advance implies a breakout of resistance at 1.1385 (May 2 high) and there may be an increase to 1.1430-40 (April 23 and 28 highs)
An alternative scenario assumes a breakout of 1.1265 (April 15 and May 1 low) and there may be a decline to 1.1145 (April 3 high)
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