EUR/USD Technical Analysis: Descending Channel & Key Breakout Levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/USD daily chart displays a well-defined descending channel, reflecting a medium-term bearish trend, with price currently testing the crucial upper resistance boundary around 1.1560–1.1600. Following a bounce off the 1.1350 1.1380 double-bottom floor, the pair has climbed back above its 20-day SMA, displaying short-term bullish momentum.



A confirmed daily close above 1.1600 may signal a formal breakout from the channel and open the path toward 1.1700–1.1800, whereas a rejection at current resistance would keep the broader downtrend intact, risking a pullback toward the 20 SMA and back toward the channel floor.
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