EUR/USD – Technical Analysis (H1)
EUR/USD bulls have successfully defended the key 1.1515–1.1520 support zone, preserving the upward structure. Focus now shifts to the strong 1.1555–1.1565 resistance area that may cap the current advance.
Bulls managed to defend the important support zone at 1.1515–1.1520, thereby preserving the upward character of the structure. However, in the very near term the market will test buyers at the strong resistance zone of 1.1555–1.1565, which has the potential to finalize the uptrend. The next significant resistance lies at the recent extreme near 1.1580.
Key Levels:
⬜ 1. 1.1515–1.1520 – key support
⬜ 2. 1.1555–1.1565 – strong resistance
⬜ 3. 1.1580 – next resistance / recent high
Primary Scenario:
Advance toward 1.1555–1.1565, followed by a reversal lower.
Alternative Scenario:
Breakout toward 1.1580.
Analyst Commentary:
Bulls still hold the advantage for now, but buying from current levels looks unattractive.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.