The EUR/USD chart currently shows bearish momentum, indicating the potential for a bearish reaction at the 1st resistance level, with a target towards the 1st support level. The 1st support at 1.0493 is significant as it aligns with an overlap support and the 78.60% Fibonacci Retracement level. Additionally, the 2nd support at 1.0450 is identified as a swing low support. On the resistance side, the 1st resistance at 1.0590 is characterized as an overlap resistance and is associated with the 61.80% Fibonacci Retracement level. Beyond this, the 2nd resistance at 1.0631 is identified as an overlap resistance.
