EURUSD, H4 Long
The upper limit of the descending regression channel coming from late September aligns as immediate resistance near 1.0800. The 20-period Simple Moving Average (SMA) on the 4-hour chart reinforces this level as well. Once the pair flips that level into support, it could extend its recovery toward 1.0850 (50-period SMA) and 1.0900 (round level, static level).
If EUR/USD fails to clear 1.0800, technical sellers could look to retain control. In this scenario, 1.0770 (mid-point of the descending channel) and 1.0730 (lower limit of the descending channel) could be seen as next support levels.
If EUR/USD fails to clear 1.0800, technical sellers could look to retain control. In this scenario, 1.0770 (mid-point of the descending channel) and 1.0730 (lower limit of the descending channel) could be seen as next support levels.
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