EURUSD is facing the resistance of the top trend line of the price channel on the 4-hour chart. Breakout of the channel resistance could bring price to test 1.1832 resistance. Above this level could indicate that the short term downtrend from 1.2029 had completed at 1.1696 already, then the following rebound could take price back to 1.1940 area. On the downside, as long as the price is in the channel, the downtrend could be expected to continue and another fall to test 1.1662 key support could be expected. A breakdown below this level would aim at the resistance-turned-support trend line on the weekly chart, now at 1.1420.
