The EUR/USD chart currently displays bullish momentum, with the potential for a bullish continuation towards the 1st resistance level at 1.0680. The 1st support at 1.0492 aligns with a swing low support, indicating a potential area of price support. Additionally, traders are watching the 1.0580 level for downside confirmation, which is identified as an overlap support and could be crucial for potential reversals. On the resistance side, the 1st resistance at 1.0680 is seen as a swing high resistance, potentially hindering further upward movements. An intermediate resistance at 1.0635 is also noted as an overlap resistance, adding to potential barriers for upward price advances.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart currently displays bullish momentum, with the potential for a bullish continuation towards the 1st resistance level at 1.0680. The 1st support at 1.0492 aligns with a swing low support, indicating a potential area of price support. Additionally, traders are watching the 1.0580 level for downside confirmation, which is identified as an overlap support and could be crucial for potential reversals. On the resistance side, the 1st resistance at 1.0680 is seen as a swing high resistance, potentially hindering further upward movements. An intermediate resistance at 1.0635 is also noted as an overlap resistance, adding to potential barriers for upward price advances.
The material has been provided by InstaForex Company – www.instaforex.com
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