EUR/USD Technical Analysis

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Source: Dukascopy Bank SA
EUR/USD 1-hour chart is locked in a bearish descending channel, with the price currently consolidating at 1.1390 right around its flattening 24 SMA (1.1391). The overall trend remains tilted to the downside, facing immediate overhead resistance between 1.1408 and 1.1420 and primary support at 1.1380. A decisive hourly close above 1.1420 would signal a bullish breakout pattern toward 1.1440+, whereas a rejection from current levels or a drop below 1.1380 keeps the downtrend intact toward lower channel support near 1.1350–1.1360.





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