EUR/USD shows steady uptrend

On the hourly chart, the EUR/USD pair shows a steady uptrend that began after breaking above the MA (200) H1 moving average, which now acts as an important dynamic support. After a steady upward momentum on June 24-25, the price reached a local maximum near 1.1755, where a consolidation zone formed. In recent hours, trading has been taking place in a narrow range between 1.1705 and 1.1750, indicating a slowdown in momentum and possible accumulation before a new move. The MACD indicator signals a weakening of the upward momentum: the histogram is near zero, which reflects a decrease in the dynamics of bullish pressure. At the same time, there are no strong signs of a reversal yet — neither a sharp increase in divergence, nor a sharp departure of the histogram into the negative zone. The nearest resistance is at 1.1755, and a break above it will open the way to new peaks. Support is located at 1.1680 and further in the 1.1580—90 zone, where the MA (200) H1 passes. The loss of this area may be the first signal for a deeper correction. Overall, the current structure remains bullish, provided the price remains above 1.1680.

Resistance levels are: 1.1755, 1.1850, 1.1910

Support levels are: 1.1680, 1.1580, 1.1545

The main scenario for the pair's advance assumes a breakout of the resistance at 1.1755 (June 27 high) and there may be an increase to 1.1850 (Sep 14’ 2021 high).

An alternative scenario implies a breakout of the 1.1680 support (June 27 low) and there may be a decline to 1.1580-90 (June 24-25 lows, MA (200) H1)