The EUR/USD chart is currently in a bullish ascending channel, and there is potential for the bullish momentum to continue towards the 1st resistance level. Here are the key support and resistance levels:
Support Levels:
The 1st support level at 1.08810 is identified as "An Overlap support" and is reinforced by the 61.80% Fibonacci Retracement. This level represents a crucial area where buying interest may emerge.
The 2nd support at 1.07590 is also identified as "An Overlap support," indicating its significance as a support zone.
Resistance Levels:
The 1st resistance level at 1.1008 is labeled as "An Overlap resistance." This level represents a zone where selling pressure may surface, potentially halting the upward momentum.
The 2nd resistance at 1.11430 is characterized as "Swing high resistance," emphasizing its importance as a significant barrier to further upward price movement.
