EUR/USD holds above MA (200) H1

On the hourly chart, the EUR/USD pair is experiencing a steady recovery after the decline recorded on May 28. The price has confidently overcome the MA (200) H1 moving average, which signals a change in the medium-term trend to an upward one. Currently, the quotes are consolidating near the resistance level of 1.1435. Above it is the key level of 1.1460, the breakdown of which will open the way to new highs. Support is at the level of 1.1405, and below it is in the area of 1.1355, where the 200-period moving average also passes, acting as additional support. The MACD indicator shows a slight positive value, while the histogram remains above zero, which indicates the continuation of the upward momentum, although its strength is decreasing. If buyers keep the price above 1.1405 and are able to overcome 1.1435, this will confirm the continuation of the upward movement. Otherwise, a pullback to the midline or even to the area of 1.1355 is possible.

Resistance levels are: 1.1435, 1.1460, 1.1550

Support levels are: 1.1405, 1.1355, 1.1310

The main scenario for the pair's advance suggests a breakout of the session high of 1.1435 (June 4 high) and there may be an increase to 1.1455 (June 3 high)

An alternative scenario implies a breakout of the session low of 1.1405 and there may be a decline to 1.1355 (June 4 low).