The EUR/USD chart shows a bearish momentum as the price broke below an ascending support line, indicating potential downward movement. The first support level at 1.0516 is a significant multi-swing low support. On the upside, the first resistance level at 1.0787 acts as an important overlap resistance, while the second resistance level at 1.1044 serves as a multi-swing high resistance, potentially impeding upward momentum.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart shows a bearish momentum as the price broke below an ascending support line, indicating potential downward movement. The first support level at 1.0516 is a significant multi-swing low support. On the upside, the first resistance level at 1.0787 acts as an important overlap resistance, while the second resistance level at 1.1044 serves as a multi-swing high resistance, potentially impeding upward momentum.
The material has been provided by InstaForex Company – www.instaforex.com
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