EURUSD Day I Rising toward resistance level?

The EUR/USD chart currently demonstrates bullish momentum, suggesting the potential for an upward move towards the 1st resistance. The 1st support at 1.0674, associated with the 23.60% Fibonacci Retracement level, may attract buying interest as a significant level. On the resistance side, the 1st resistance at 1.0765, linked to the 38.20% Fibonacci Retracement level, could pose as a level of selling pressure due to its overlap resistance nature. The 2nd resistance at 1.0858, related to the 50% Fibonacci Retracement level, further reinforces its significance as a potential obstacle to upward price movement.

Analysis are provided by InstaForex

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