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  • Hourly indicators are drifting higher but bullish movement remains limited; an extension of Tuesday’s bearish retracement could follow a successful rollover.
  • Early Wednesday action is challenging current support levels established early in the week.
  • Broader market sentiment remains constrained, piling onto a bearish bias for risk assets like the Euro.

EUR/USD Chart, 1-Hour

Spot rate:   1.1646
Relative change:   Negligible
High:   1.1664
Low:   1.1639
   
Trend:   Bearish
   
Support 1:   1.1628 (current week low)  
Support 2:   1.1589 (61.8% weekly Fibo level)
Support 3:   1.1508 (previous week low)
   
Resistance 1:   1.1720 (current week high)
Resistance 2:   1.1754 (R2 daily pivot)  
Resistance 3:   1.1787 (R3 daily pivot)