EUR/USD (Euro/US Dollar), a potential bullish bounce scenario is outlined based on the following key levels:
Support Levels:
The 1st support level at 1.0711 is identified as "An Overlap support," indicating a significant level where buying interest could emerge, potentially acting as a support level for the price.
The 2nd support level at 1.0665 is also described as "An Overlap support," reinforcing the notion of strong support in this region, further enhancing the bullish bias.
Resistance Levels:
The 1st resistance level at 1.0745 is recognized as "Pullback resistance," suggesting a significant barrier where selling pressure may increase, potentially causing a temporary halt or reversal in the upward movement of the price.
The 2nd resistance level at 1.0804 is noted as "An Overlap resistance," indicating another level where sellers could become active, potentially limiting further upward movement.
