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- EUR/USD demonstrates corrective recovery
EUR/USD demonstrates corrective recovery
On the hourly chart, the EUR/USD pair shows a corrective recovery after the previous decline, but remains under pressure near the level of 1.1525, which acts as the nearest resistance. The price is consolidating above the MA (200) H1 moving average, which indicates the continuation of the upward momentum in the short term. The MACD indicator begins an upward reversal after forming a buy signal, which confirms the likelihood of further growth. The overall picture remains neutral-positive with a bias towards buyers, provided the price remains above the moving average.
Resistance levels are: 1.1525, 1.1580, 1.1615-30
Support levels are: 1.1475, 1.1405, 1.1355-70
The main scenario for the pair's advance suggests a breakout of the session high of 1.1525 and there may be an increase to 1.1580 (June 17 high)
An alternative scenario implies a breakout of the session low of 1.1475 (June 17 low) and a possible decline to 1.1405 (June 11 low).
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