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- EUR/USD is testing the strength of MA (200) H1
EUR/USD is testing the strength of MA (200) H1
On the hourly chart of EUR/USD, there is an upward correction after a strong downward impulse that ended around 1.1065 - this is the nearest support. The price broke through the level of 1.1180 and is currently trading around 1.1235, continuing its upward movement. The next resistance is the 1.1295 zone, where the MA (200) H1 moving average also runs, which reinforces this level as a potential barrier to further growth. The MACD indicator shows a confident bullish trend: the histogram is growing in a positive zone, which confirms the upward momentum. The MACD lines crossed up earlier, giving a buy signal.
The overall picture suggests that the short–term trend has changed to an upward one, but the 1.1295-1.13365 zone will be key for further growth. In case of a pullback, the support level is 1.1180.
Resistance levels are: 1.1295, 1.1335, 1.1380
Support levels are: 1.1180, 1.1065, 1.0890
The main scenario for the pair's advance implies a decline to the session low of 1.1180 and then, perhaps, to 1.1065 (May 12 low)
An alternative scenario assumes a breakout of the resistance at 1.1295 (May 9 high) and there may be an increase to 1.1335 (May 8 high)
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