EURUSD, H4 | Falling to support level?

The EUR/USD chart displays a bearish trend, emphasized by its position below the bearish Ichimoku cloud. Price might react bearishly at the 1st resistance of 1.0692, then possibly decline to the 1st support at 1.0633, an overlap support. The 2nd support at 1.0593 is enhanced by the 161.80% Fibonacci Extension. Resistances at 1.0692 and 1.0766 are both overlap resistances, with the former aligned with the 38.20% Fibonacci Retracement. The overall outlook remains bearish.The material has been provided by InstaForex Company - www.instaforex.com
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