The EUR/USD chart shows a prevailing bearish momentum, indicating a downward trend in the market.
There is a potential for a bearish reaction at the first resistance level of 1.0947, followed by a drop towards the first support level at 1.0682.
Key support levels include the first support at 1.0682 and the second support at 1.0625, both identified as multi-swing low supports.
On the upside, the first resistance at 1.0947 acts as an overlap resistance, potentially impeding upward price movements. Additionally, the second resistance at 1.1044 represents a significant multi-swing high resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart shows a prevailing bearish momentum, indicating a downward trend in the market.
There is a potential for a bearish reaction at the first resistance level of 1.0947, followed by a drop towards the first support level at 1.0682.
Key support levels include the first support at 1.0682 and the second support at 1.0625, both identified as multi-swing low supports.
On the upside, the first resistance at 1.0947 acts as an overlap resistance, potentially impeding upward price movements. Additionally, the second resistance at 1.1044 represents a significant multi-swing high resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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