The EUR/USD did not manage to pass the resistance levels at the 1.1400 mark. Instead the rate retreated down to the lower trend line of the ascending channel pattern.
On Thursday morning the rate had bounced off the support of the trend line and had found additional support in the weekly R1 at 1.1380. Due to that reason it was assumed that the rate will make another attempt to pass the 1.1400 level.
On the other hand the rate might trade sideways and that way pass the support of the ascending channel. That way the rate would face the various support on the hourly chart one by one and decline below them.
