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31.03.2023 08:14 AM
EURUSD, H4 | Potential Reversal from a key level?

The EUR/USD chart is displaying bearish momentum, indicating a potential drop from the multi-swing high resistance level at 1.0927, coinciding with a 78.60% Fibonacci retracement. The first support level at 1.0830, a multi-swing low support level, could be reached if the price falls. If the price continues to drop, the second support level at 1.0763, an overlap support level, and 38.20% Fibonacci retracement level may come into play.

Conversely, breaking through the first resistance level could lead to a rise towards the second resistance level at 1.1030, a swing high resistance level, and -27% Fibonacci expansion

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Dean Leo,
Analytical expert of InstaTrade
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