EURUSD Key Levels (Downside Move)

As you can see in the 4H chart, we have a sharp and strong downtrend.

Last week, there was a downside breakout on the monthly low and candle closure below that.

On the other hand, price stopped falling after touching the last week’s low and was pushed to the upside.

There is a resistance level in the lower time frames at 1.1925 and if it will be broken out to the upside, we can expect more rise in price around 1.1985 - 1.2000 which is a supply zone(The yellow rectangle) and also below the monthly low.

If price could rise to the supply zone and there was any downside pressure at those levels, we can expect a fall again first to 1.1860 and in the case of a downside breakout of this level, the next target would be 1.1725 which is a monthly support level.