EUR/USD remains above MA (200) H1

Today, the EUR/USD pair is consolidating on the hourly chart after a rapid growth that began on April 9 and peaked near the 1.1470 level. Since reaching the maximum, the price has failed to overcome the resistance at 1.1430 and is showing a sideways movement with the formation of a range between the levels of 1.1260 and 1.1380. The MA (200) H1 moving average (1.1190) is moving up, confirming the dominance of the uptrend in the medium term. However, the price is significantly far from this average, which may signal a possible correction or consolidation period. The MACD shows weak activity with insignificant histograms close to zero, which indicates the absence of a clear momentum in one direction. After the recent move into the positive zone, the indicator began to decline, which may indicate a possible short-term weakness of the bulls.

Resistance levels are: 1.1430, 1.1470, 1.1510

Support levels are: 1.1260, 1.1190, 1.1145

The main scenario for the pair's advance implies a breakout of resistance at 1.1430 (April 14 high) and an increase towards 1.1470 (April 11 high).

An alternative scenario suggests a breakout of support at 1.1260 (April 15 low), a decline to MA (200) H1 (1.1190) and then, perhaps, to 1.1145 (April 3 high)