EUR/USD has been trading sideways at the price of 1.1047. There is still upside pressure from the background and potential test of the upper diagonal of the downward channel. Watch for potential re-test of the 1.1090.
Yellow rectangle – Resistance level
Green lines – Downward channel
Based on the 4H time-frame, I still see that there is chance for re-test of the 1.1090. Key support zone is at 1.1015 and resistance levels at 1.109. Bears need to be very cautious as there is strong support on the test and potential re-test of the upper line of the channel. As long as the EUR is holding above 1.1015 there is a chance for potential test of 1.1090 or higher.
