EURUSD stays in a descending price channel on its 4-hour chart, indicating that the pair remains in the short term downtrend from 1.1285. As long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at around 1.1130. Near term resistance is at 1.1232, a break of this level could bring price back to test 1.1285 resistance.
