EUR/USD, Technical Analysis – H1

The euro strengthened significantly against the dollar following the Fed’s decision to keep rates unchanged. As seen on the chart, a local descending trendline has been confidently broken, with multiple resistance levels cleared. Thus, after the completion of a technical pullback (presumably in the 1.1420–1.1430 area), a move to break the recent high and reach 1.1500 can be expected.

Key Levels:

⬜ Support: 1.1420–1.1430

⬜ Target: 1.1500

Primary Scenario:

Pullback to 1.1420–1.1430, followed by a rise toward 1.1500.

Alternative Scenario:

Direct advance to 1.1500 from current levels.

Analyst Commentary:

Bullish dominance in this pair requires confirmation in the form of a break above 1.1470.