On Tuesday, the EUR/USD currency pair revealed a medium-term descending channel.

From a theoretical point of view, it is likely that some downside potential could prevail in the market within the following trading session.

Meanwhile, note that the exchange rate could gain support from the 55– and 100-hour SMAs in the 1.1680 area. Thus, the rate could break the upper channel line and re-test the monthly S1 at 1.1767.

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