EUR/USD shows steady uptrend

On the hourly chart, the EUR/USD pair continues its steady uptrend, trading near 1.1810 after reaching a new local high near 1.1830. The price has steadily gained a foothold above the key resistance levels of 1.1680 and 1.1755, which confirms the bullish market sentiment. The movement is supported by the MA (200) H1 moving average, which is confidently pointing upwards and remains well below current prices, which indicates the presence of a steady momentum. The MACD indicator maintains a positive zone and shows a growing bullish divergence, which signals a possible continuation of growth in the short term. If buyers manage to overcome the resistance at 1.1830, the path to new highs will open. Otherwise, a short-term correction is possible with the nearest support in the area of 1.1755, which previously acted as resistance and may now become a rebound point. The overall technical picture remains positive while maintaining the upward momentum.

Resistance levels are: 1.1830, 1.1850, 1.1910

Support levels are: 1.1755, 1.1680, 1.1580-90

The main scenario for the pair's advance suggests a breakout of the session high of 1.1830 and there may be an increase to 1.1850 (Sep 10’ 2021 high).

An alternative scenario implies a breakout of the support 1.1755 (June 27 high) and a possible decline to 1.1680 (June 27 low)