The EUR/USD chart shows a bullish momentum, suggesting a potential continuation of the upward movement towards the 1st resistance level. The 1st support at 1.1088 acts as a pullback support, coinciding with the 38.20% Fibonacci retracement, while the 2nd support at 1.1000 reinforces its significance with the 61.80% Fibonacci retracement.
Looking ahead, the 1st resistance at 1.1282 poses a notable swing high resistance, presenting a challenge for further upward progress. Additionally, the 2nd resistance at 1.1369, aligned with the 161.80% Fibonacci extension, adds to its importance as a potential resistance zone.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart shows a bullish momentum, suggesting a potential continuation of the upward movement towards the 1st resistance level. The 1st support at 1.1088 acts as a pullback support, coinciding with the 38.20% Fibonacci retracement, while the 2nd support at 1.1000 reinforces its significance with the 61.80% Fibonacci retracement.
Looking ahead, the 1st resistance at 1.1282 poses a notable swing high resistance, presenting a challenge for further upward progress. Additionally, the 2nd resistance at 1.1369, aligned with the 161.80% Fibonacci extension, adds to its importance as a potential resistance zone.
The material has been provided by InstaForex Company – www.instaforex.com
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