EUR/USD is testing MA (200) H1

On the hourly chart of EUR/USD, consolidation is observed in the range between the support levels of 1.1265 and resistance levels of 1.1350. The MA (200) H1 moving average is above the current price and has a downward slope, which indicates the continuation of the medium-term downward trend. The price failed to gain a foothold above this moving average, which reinforces its role as a dynamic resistance. The MACD indicator shows weak activity. The histogram fluctuates near the zero line, indicating the absence of a clearly defined impulse in one direction. However, the last MACD columns turned green, which may indicate an attempt by buyers to regain the initiative, although the signal is still inconclusive.

In general, as long as the pair remains under pressure and is trading below key resistance levels, there is a possibility of further decline, especially in the event of a breakdown of support at 1.1265. To change direction, a confident breakdown and consolidation above 1.1350 and especially above the 1.1380–1.1440 zone is necessary.

Resistance levels are: 1.1350, 1.1380, 1.1440

Support levels are: 1.1265, 1.1145, 1.1095

The main scenario for the pair's advance implies a breakout of MA (200) H1 and the session high of 1.1350, and there may be an increase to 1.1385 (May 2 high)

An alternative scenario assumes a breakout of 1.1265 (April 15 and May 1 low) and there may be a decline to 1.1145 (April 3 high)