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11.12.2023 05:58 AM
EUR/USD H4 | Bearish Reversal?
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The EUR/USD chart is currently indicating the potential for a bearish reversal, with significant support and resistance levels in focus.

Resistance Levels:

The 1st resistance at 1.08175 is characterized as "An Overlap resistance." This level represents a zone where selling pressure may emerge, potentially hindering further upward movement. Furthermore, the 2nd resistance level at 1.08790 is identified as "An Overlap resistance," reinforcing its role as a significant resistance zone due to its alignment with key technical levels.

Support Levels:

On the support side, the 1st support level at 1.07500 is labeled as "An Overlap support." This level suggests a potential area where buying interest may emerge, potentially preventing further downward movement. Complementing this, the 2nd support level at 1.06673 is characterized by "An Overlap support," indicating its potential to provide support to the price.

Dean Leo,
Analytical expert of InstaTrade
© 2007-2025

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