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- EUR/USD dropped below MA (200) H1
EUR/USD dropped below MA (200) H1
There is a downward trend on the hourly chart of EUR/USD. The price is trading below the MA (200) H1 moving average (1.1340), which confirms the presence of bearish pressure. After growth attempts on May 6-7, the price failed to gain a foothold above the resistance level of 1.1340 and began to decline. The quote is currently in the area of 1.1300, approaching the support of 1.1265. The MACD indicator shows a bearish divergence — the histogram goes into the negative zone, confirming the strengthening of the downward momentum. The 1.1380 and 1.1430 levels act as key resistances, while support remains at 1.1265. In the short term, there is a high probability of testing this support, and if it is breached, the way opens for a deeper decline. In case of a reversal above 1.1340, a return to 1.1380 is possible.
Resistance levels are: 1.1340, 1.1380, 1.1430-40
Support levels are: 1.1265, 1.1145, 1.0890
The main scenario for the pair's advance implies a breakout of support at 1.1265 (April 15 and May 1 low) and there may be a decline to 1.1145 (April 3 high)
An alternative scenario suggests an increase to MA (200) H1 (1.1340) and then, perhaps, to 1.1380 (May 2 and 6 high)
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