FX.co ★ EURUSD , H4 | Falling to 1st Support?

The EUR/USD chart shows bullish momentum with price above a key ascending trend line, indicating a potential for further upward movement.

In the short term, a decline towards the first support at 1.0905 is possible before a rebound towards the first resistance at 1.0949.

Notable support levels include 1.0905 and 1.0846, serving as pullback supports and aligning with the 38.20% Fibonacci Retracement.

On the upside, the first resistance at 1.0949 acts as an overlap resistance, while the second resistance at 1.1002 represents a significant swing high resistance and coincides with the 78.60% Fibonacci Retracement.