On Tuesday morning various additional pieces of information were spotted on the hourly chart for the EUR/USD currency pair. First of all, it is clear that the 1.1140 level is working as a support level, as it has held the line and forced a rebound already twice. Secondly, a short term descending channel has been spotted. In accordance with the channel the pair is set to decline in a 45 degree angle. Meanwhile, regarding the next twenty four hours, the common European currency is highly likely going to surge until it bounced off a resistance level either at 1.1175 or 1.1190. After a bounce off the pair would continue the decline down to the weekly S1, which is located at the 1.1121 level. However, traders should take into account the mentioned 1.1140 level.
