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- EUR/USD remains below MA (200) H1
EUR/USD remains below MA (200) H1
On the hourly chart, the EUR/USD pair has been trading in a downward trend since the beginning of July, breaking through several support levels indicated by red horizontal lines. The price is currently below the red moving average of mA (200) H1, which confirms the dominant bearish sentiment. However, in recent hours, there has been a rebound from the lows, and the price is moving up, approaching the level of 1.1645. The MACD indicator at the bottom of the chart shows that the histogram changes color from red to green and rises above the zero line, while the signal line crosses the zero line from bottom to top, indicating an increased upward momentum and a possible short-term change in direction or correction to the main downtrend.
Resistance levels are: 1.1645, 1.1700-15, 1.1750-65
Support levels are: 1.1590, 1.1560, 1.1450
The main scenario for the pair's advance suggests a breakout of support at 1.1590 (July 15 low) and a possible decline to 1.1560 (July 17 low)
An alternative scenario implies a breakout of the session high of 1.1645 and there may be an increase to 1.1700-15 (July 11-15 highs).
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