The EUR/USD pair continues to move downwards from the level of 1.1369, which represents the first resistance in the H1 chart.
The pair dropped from the level of 1.1369 to the bottom around 1.1302.
This week, the first resistance level is seen at 1.1392 followed by 1.1453, while daily support is seen at the levels of 1.1388 and 1.1227.
According to the previous events, the EUR/USD pair is still trading between the levels of 1.1330 and 1.1227.
Hence, we expect a range of 103 pips (1.1330 - 1.1227) in coming hours.
The first resistance stands at 1.1392, for that if the EUR/USD pair fails to break through the resistance level of 1.1392, the market will decline further to 1.1392.
This would suggest a bearish market because the RSI indicator is still in a negative area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.1227 in order to test the second support (1.1227).
On the contrary, if a breakout takes place at the resistance level of 1.1495 (the double top), then this scenario may become invalidated.
