If one looks up the hourly charts of the EUR/USD currency pair, it can be clearly spotted that the currency pair following the recent rebound against a dominant support has been stopped.
The pair’s surge was stopped by the upper trend line of a junior channel pattern just below the 1.20 mark. The event has resulted in the rates decline that on Friday morning had declined below two resistance levels near the 1.1980 level.
In regards to the near future, the pair was expected to make another attempt to pass the dominant support line below the 1.1940 mark.
