FX.co ★ EUR/USD, H4 | Falling to Fibo confluence support?

The EUR/USD pair is showing a bearish trend, potentially moving towards the first support level at 1.0918,which is an overlap support that is aligned with a confluence of Fibonacci levels i.e. the 78.60% retracement and 61.80% projection levels. If the price drops further, the second support at 1.0839, which is aligned with the 100.00% Fibonacci projection level, could limit further losses. On the upside, the first resistance at 1.0959 is an overlap resistance and may restrict any potential bullish moves. The second resistance at 1.1038 is another overlap resistance that could also hinder price increases.