EUR/USD is showing signs of a potential bearish reversal based on the technical analysis of key support and resistance levels:
Resistance Levels:
1st resistance: 1.0866, characterized by a "Pullback resistance." This level represents a significant barrier to upward movement.
2nd resistance: 1.0889, also supported by a "Swing-high resistance." The presence of resistance at this level further reinforces the potential reversal zone.
Support Levels:
1st support: 1.0798, marked as a "Pullback support." This level indicates a significant area where buying interest may emerge, potentially providing support.
2nd support: 1.0744, backed by a "Pullback support." Multiple factors coincide at this level, strengthening its potential as a support zone.