FX.co ★ EUR/USD, H4 | Bounce off support?

The EUR/USD pair is currently displaying a bearish trend, with the price within a descending channel. This suggests a potential bearish reaction at the first resistance level, possibly leading to a drop towards the first support level at 1.0747. This level, and the second support level at 1.0649, are known as overlap supports, potentially providing a sturdy base against further declines. However, if the price aims to reverse its trajectory, it could meet resistance at 1.0828 and 1.0892. These overlap resistances might obstruct the price's upward momentum, potentially triggering a reversal towards support levels.