From TradingView · · 30s
EURUSD Descending Channel Resistance
EURUSD faces bearish channel resistance as price tests key support levels.
In brief
EURUSD faces bearish channel resistance as price tests key support levels. EURUSD may break lower after rejecting 1.1230-1.1260 resistance near 1.1230-1.1260. Originally reported by TradingView.
Current Market Structure
EURUSD trades within descending channel with persistent lower highs and lower lows.
Recent Price Action
Price recovered toward upper channel boundary before rejecting 1.1230-1.1260 resistance area.
Key Support Zone
Highlighted support zone around 1.1120-1.1140 remains critical for price stability.
Liquidity Area
Liquidity zone near 1.1390-1.1410 could become upside objective if bullish momentum strengthens.
The main idea
EURUSD may break lower after rejecting 1.1230-1.1260 resistance near 1.1230-1.1260.
