The EUR/USD chart suggests a potential bearish scenario with a focus on a continuation towards the 1st support level. Here are the key support and resistance levels:
Resistance Levels:
The 1st resistance level at 1.0986 is identified as "An Overlap resistance" and is additionally supported by the 50% Fibonacci Retracement. This level could act as a significant barrier to further upward movement.
The 2nd resistance level at 1.1062 is labeled as "Pullback resistance." It represents another level where selling pressure could emerge and hinder the price from moving higher.
Support Levels:
The 1st support level at 1.0881 is a crucial support zone, marked as "An Overlap support." This level may attract buying interest and potentially act as a floor for the price.
The 2nd support level at 1.0823 is labeled as "Pullback support." It serves as an additional support zone where traders might consider entering long positions.
