The EUR/USD chart is currently encountering significant resistance levels, signaling the potential for a bearish reversal.
Resistance Levels:
The 1st resistance level at 1.10109 is identified as "Pullback resistance." This level represents a significant barrier to further upward price movement and is a key consideration for traders. Additionally, the 1st resistance level at 1.11311 is characterized as "Swing high resistance," highlighting its role as a formidable resistance zone.
Support Levels:
On the support side, the 1st support level at 1.08801 is labeled as "An Overlap support." This level may indicate a zone where buying interest could emerge, potentially leading to a bounce or stabilization in prices. Further below, the 2nd support at 1.07493 is also supported by "An Overlap support," emphasizing its position as a substantial support zone.
