EUR/USD currently exhibits bearish momentum, with the potential for a bearish break below the 1st support and a subsequent drop towards the 2nd support.
The 1st support at 1.0912 is a reliable multi-swing low support level that has historically prompted price bounces. A break below this support could lead to a decline towards the 2nd support.
Located at 1.0843, the 2nd support is a critical swing low support level, likely to halt further price drops and potentially trigger a rebound.
On the resistance side, the 1st resistance at 1.1006 serves as a significant overlap resistance that can impede bullish price movements and reverse the trend.
Between the current price and the 1st resistance lies an intermediate resistance at 1.0945, also an overlap resistance. Breaking this level may accelerate bearish momentum towards the 1st resistance.
Lastly, the 2nd resistance at 1.1052, known as a multi-swing high resistance, has historically halted price rises. A break above the 1st resistance could potentially push prices towards the 2nd resistance, but given the overall bearish momentum, this outcome is less likely.