FX.co ★ EURUSD, H4 | React off 1st resistance?

The EUR/USD chart currently indicates bearish momentum, with the price below a significant descending trend line and positioned just below the bearish Ichimoku cloud. A potential scenario involves a bearish reaction at the 1st resistance level, leading to a drop towards the 1st support level. Both support levels at 1.0736 overlap, suggesting historical support. The 1st resistance at 1.0834 and 2nd resistance at 1.0915 are overlapping resistances, with the latter also aligning with a 50% Fibonacci Retracement, making them important potential barriers.