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- EUR/USD holds above MA (200) H1
EUR/USD holds above MA (200) H1
On the hourly chart, the EUR/USD pair is recovering from a local decline, while the price is held above the moving average of MA (200) H1, which speaks in favor of maintaining the upward momentum. There was support near the 1.1355 level, from which the quote bounced up, which confirms the strength of this level as a key one in the short term. The MACD indicator shows signs of bullish divergence formation: the histogram has started to rise above the zero line, and the signal line is also moving up, indicating a possible continuation of growth. Nevertheless, the signals remain moderate for now, and the price reaction to the 1.1405 level will remain the key factor. A consolidation above it will confirm the dominance of buyers, while a return below 1.1355 may increase the pressure and send the price to 1.1310 and below.
Resistance levels are: 1.1405, 1.1455, 1.1550
Support levels are: 1.1355, 1.1310, 1.1255
The main scenario for the pair's advance suggests a breakout of the session high of 1.1405 and there may be an increase to 1.1455 (June 3 high)
An alternative scenario implies a breakout of the session low of 1.1355 and there may be a decline to 1.1310 (May 30 low).
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