The decline of the EUR/USD currency exchange rate found support at the lower boundary of a descending channel pattern at 1.1790.
In the near term future, if the currency pair surges, it would have to pass the resistance cluster of the 55– and 100– hour simple moving averages near the 1.1815 level.
On the other hand, a passing of the support level formed by the lower line of the channel pattern near 1.1790 would immediately find support in the weekly support level at 1.1758.
