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- EUR/USD remains above MA (200) H1
EUR/USD remains above MA (200) H1
On the hourly chart, the EUR/USD pair shows an upward movement that began after the breakdown of the resistance level of 1.1220. The price has confidently overcome the MA (200) H1 moving average, which may indicate a change in the medium-term trend from downward to upward. Currently, the price is consolidating above this average, which confirms the bullish market sentiment. The MACD indicator shows a bullish divergence and a buy signal, which confirms the current upward momentum. The histogram is above the zero line, and the green bars are strengthening, which indicates an increasing bullish momentum. In general, the technical picture currently supports continued growth, provided the price remains above 1.1220 and the 200-period moving average.
Resistance levels are: 1.1290, 1.1335, 1.1380
Support levels are: 1.1220, 1.1170, 1.1130
The main scenario for the pair's advance assumes a breakout of resistance at 1.1290 (May 9 and 19 high) and there may be an increase to 1.1335 (May 8 high)
An alternative scenario implies a breakout of the session low of 1.1220, a decline to 1.1170 (May 19 low) and then, maybe, to 1.1130 (May 16 low)
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