FX.co ★ EURUSD, H4 | Boucnign off support level?

The EUR/USD chart currently maintains a bearish momentum due to factors like a descending channel, trading below the bearish Ichimoku cloud, and being within a broader bearish channel. This suggests a likely continuation of the downward trend. In the short term, there's potential for a temporary rise towards the 1st resistance at 1.0689, a pullback resistance.

On the support side, the 1st support at 1.0643 and the 2nd support at 1.0532 both indicate strong potential support zones. The 1st resistance at 1.0773, noted as an overlap resistance, may serve as a point of reversal.