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FX.co ★ EURUSD H4 | Falling toward support level?

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Forex Analysis:::2023-11-16T05:39:18

EURUSD H4 | Falling toward support level?

EURUSD H4 | Falling toward support level?

The EUR/USD chart shows a bearish momentum with potential for a downward move to the 1st support at 1.0764, a pullback support level. The 2nd support at 1.0663 is an overlap support, historically significant. On the resistance side, the 1st resistance at 1.0884 is a multi-swing high resistance, indicating a potential barrier to upward movement. The 2nd resistance at 1.0943 is a swing high resistance, reinforcing the potential for a bearish continuation. In summary, there's a bearish bias with support at 1.0764 and 1.0663, and resistance at 1.0884 and 1.0943 levels to watch for price reactions.

Analyst InstaForex
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