FX.co ★ EURUSD Day | Bouncing off 1st support?

The EUR/USD chart currently shows bearish momentum, with the price below a major descending trend line, indicating a potential for further bearish movement. There's a chance of a short-term price rise towards the first resistance level at 1.0771 before a possible reversal and a decline towards the first support level. The first support at 1.0693 is an overlap support, providing historical price support. The second support at 1.0517 is significant as it aligns with multi-swing low support and the 161.80% Fibonacci Extension, reinforcing its importance as a potential support zone. On the resistance side, the first resistance at 1.0771 is considered significant as a pullback resistance. The second resistance at 1.0940 is marked as an overlap resistance.