The EUR/USD chart maintains a bearish momentum within a descending channel, setting the stage for a potential bearish reaction at the 1st resistance level of 1.0773. This level is crucial as it's an overlap resistance aligned with the 38.20% Fibonacci Retracement and 61.80% Fibonacci Projection, indicating Fibonacci confluence.
To the downside, the 1st support at 1.0689 is significant for potential rebounds, being a swing low support. The 2nd support at 1.0634, also a swing low support, reinforces its role as a support zone.
