The EUR/USD chart shows bearish momentum, with potential for a drop towards the 1st support level at 1.1088. The 1st support is a pullback support and coincides with the 38.20% Fibonacci Retracement. An intermediate support is also present at 1.1208.
On the upside, the 1st resistance at 1.1282 is an overlap resistance, while the 2nd resistance at 1.1366 aligns with the 161.80% Fibonacci Retracement.
The RSI indicates bearish divergence, suggesting a possible rapid decline in price.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart shows bearish momentum, with potential for a drop towards the 1st support level at 1.1088. The 1st support is a pullback support and coincides with the 38.20% Fibonacci Retracement. An intermediate support is also present at 1.1208.
On the upside, the 1st resistance at 1.1282 is an overlap resistance, while the 2nd resistance at 1.1366 aligns with the 161.80% Fibonacci Retracement.
The RSI indicates bearish divergence, suggesting a possible rapid decline in price.
The material has been provided by InstaForex Company – www.instaforex.com
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