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- EUR/USD drops to monthly low
EUR/USD drops to monthly low
There is a steady downward movement on the hourly chart of EUR/USD, which has intensified in recent trading sessions. The pair broke through several key support levels and dropped to a monthly low. This indicates a clear dominance of sellers. The price is well below the MA (200) H1 moving average, which confirms the bearish trend. The MACD indicator shows a growing negative divergence - the histogram expands in the negative zone, confirming the downward momentum. The absence of signs of a reversal in the near term indicates the possibility of a further decline in quotations. In the short term, the pair remains under pressure, and any attempts at growth may face active resistance from sellers.
Resistance levels are: 1.1145, 1.1195, 1.1295
Support levels are: 1.1080, 1.0890, 1.0785
The main scenario for the pair's advance implies a decline to the 1.1000 zone and then to 1.0890 (April 8 low)
The alternative scenario assumes an increase to 1.1195 (May 9 low) and then maybe to 1.1295 (May 9 high).
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