EURUSD, Time frame: 4H, Source: TradingviewEURUSD, Time frame: 4H, Source: Tradingview

EUR/USD remains within a descending channel, with lower highs and lower lows continuing to shape price action on the 4-hour timeframe. While the broader structure remains bearish, recent price action shows a recovery from the lower boundary of the channel.

Price Tests Trendline

After bouncing from support near 1.1350, EUR/USD has recovered toward 1.1400–1.1410. The pair is now approaching the upper half of the channel, where previous rallies have struggled to maintain momentum.

1.1437 Remains the Key Resistance Pivot

The 1.1437 level stands out as the most important resistance area on the chart. The volume profile shows this level sits within the highest concentration of traded volume, making it a significant zone of market acceptance. Price remains below this area, keeping the broader structure capped.

Volume Profile Highlights Overhead Supply

The largest volume cluster is concentrated between 1.1400 and 1.1440, with the Point of Control centered around 1.1437. This suggests any recovery attempt is likely to encounter selling pressure unless buyers can establish acceptance above the value area.

Momentum Improves

The RSI has climbed to around 54, moving above both the neutral 50 level and its moving average. This indicates improving short-term momentum following the recent rebound from channel support.