The EUR/USD chart currently displays an overall bearish momentum, indicating a potential continuation of bearish movements towards the 1st support level. The 1st support level at 1.0806 is an overlap support that has previously demonstrated its strength. However, should the price break through this level, it could potentially drop further towards the 2nd support at 1.0516, which is a multi-swing low support.
Resistance levels for the EUR/USD can be found at 1.1184 and 1.1035. The 1st resistance level is an overlap resistance that is crucial in monitoring for any potential bearish movements. Meanwhile, the intermediate resistance at 1.1035 is a multi-swing high resistance that could potentially trigger a stronger bearish trend towards the 1st support level if the price breaks through it.
It’s important to note that there is also an intermediate support level at 1.0974, which is a pullback support. Should the price bounce from this level, it could potentially rise towards the intermediate resistance at 1.1035
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart currently displays an overall bearish momentum, indicating a potential continuation of bearish movements towards the 1st support level. The 1st support level at 1.0806 is an overlap support that has previously demonstrated its strength. However, should the price break through this level, it could potentially drop further towards the 2nd support at 1.0516, which is a multi-swing low support.
Resistance levels for the EUR/USD can be found at 1.1184 and 1.1035. The 1st resistance level is an overlap resistance that is crucial in monitoring for any potential bearish movements. Meanwhile, the intermediate resistance at 1.1035 is a multi-swing high resistance that could potentially trigger a stronger bearish trend towards the 1st support level if the price breaks through it.
It’s important to note that there is also an intermediate support level at 1.0974, which is a pullback support. Should the price bounce from this level, it could potentially rise towards the intermediate resistance at 1.1035
The material has been provided by InstaForex Company – www.instaforex.com
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