The EUR/USD chart currently has a bearish momentum, and there's a potential scenario of a bearish continuation towards the 1st support level. The 1st support level at 1.0486 is identified as an overlap support that aligns with the 127.20% Fibonacci extension level. The 1st resistance level at 1.0642 is identified as a pullback resistance that aligns with the 23.60% Fibonacci retracement level while the 2nd resistance level at 1.0762 is noted as an overlap resistance that aligns with the 38.20% Fibonacci retracement level.
