FX.co ★ EURUSD H4 | Bearish Continuation Expected?

The EUR/USD chart currently exhibits bearish momentum, primarily due to its confinement within a descending channel. This could potentially lead to a bearish continuation, with the price heading towards the 1st support at 1.0689, which aligns with a swing low support. Additionally, the 2nd support at 1.0634, also a swing low support, reinforces its significance.

On the resistance side, the 1st resistance at 1.0773 is notable for being an overlap resistance and aligning with the 38.20% Fibonacci Retracement level. Furthermore, the 2nd resistance at 1.0837 holds importance as overlap resistance and aligns with the 61.80% Fibonacci Retracement.