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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 continues to show a bullish bias, despite a local correction from the highs around 1.1495. The price is holding above the MA (200) H1 moving average, which confirms the ongoing uptrend. The MACD indicator under the chart shows a gradual recovery: the histogram is growing and has reached above the zero line, which signals the return of bullish momentum. As long as support remains in the 1.1370 area and quotes are trading above the 200-SMA, the priority remains with buyers. In the event of a breakdown down to the 1.1355 level, the structure may enter a sideways or downward phase. Attention should be paid to the development of dynamics near 1.1420–1.1460: an upward breakout will strengthen bullish sentiment, a downward pullback will increase the likelihood of a support test.
Resistance levels are: 1.1460, 1.1495, 1.1550
Support levels are: 1.1355-70, 1.1310, 1.1255
The main scenario for the pair's advance assumes a breakout of the resistance of 1.1460 (June 3 and 6 high) and there may be an increase to 1.1495 (June 5 high)
An alternative scenario implies a breakout of the 1.1355-70 area (June 4 and 6 low) and there may be a decline to 1.1310 (May 30 low).
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