EUR/USD stays below a descending price channel on its 4-hour chart and remains in the downtrend from 1.2092. As long as the price is in the channel, the downtrend could be expected to continue and another fall to test 1.1662 support is still possible. A breakdown below this support level could bring price to the resistance-turned-support trend line on the weekly chart, now at 1.1415.
On the upside, a breakthrough the top trend line of the channel could bring price back towards 1.1832 resistance. Above this level would indicate that the downtrend from 1.2092 is complete, then the pair would find next resistance level at 1.1900.
