FX.co ★ EUR/USD H4 | Bullish Bounce

EUR/USD: here's the analysis for a potential bullish bounce:

Description: The chart indicates a potential bullish bounce, with significant support and resistance levels identified.

Support Levels:

The 1st support level is at 1.0799, identified as "An Overlap support." This level suggests a historical area where the price has found support.

The 2nd support level is located at 1.0708, also marked as "An Overlap support." Similar to the 1st support level, this zone represents another historical area where the price has found support.

Resistance Levels:

The 1st resistance level is observed at 1.0892, characterized as "Multi-swing high resistance." This level represents a historical high point where the price has faced selling pressure from multiple swing highs.

The 2nd resistance level is identified at 1.0983, marked as "An Overlap resistance." This level suggests a historical area where the price has encountered resistance.