EUR/USD – Technical Analysis (H1)

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.