EUR/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The daily EUR/USD chart shows a well-defined descending channel where aggressive bearish momentum has pushed the price down to its current level of 1.1362, which sits right on a minor intraday support line. Sellers remain dominant after a sharp, near-vertical decline, making a near-term test of the next major horizontal support at 1.1308 and the channel's lower boundary highly probable. For a structural shift to occur, buyers must cleanly defend this channel floor to trigger a counter-trend bounce; however, any recovery will face heavy overhead resistance at the 1.1494 horizontal level and the descending channel's upper trendline.



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