EUR/USD Technical Analysis: Bears await a convincing break below ascending trend-channel

   •  The pair continued with its struggle to sustain/build on the attempted intraday up-move beyond 50-hour EMA and remains within striking distance of two-week lows set on Friday.

   •  Technical indicators on hourly/daily charts continue to hold in the bearish territory and support prospects for an extension of the ongoing bearish trajectory in the near-term.

EUR/USD 1-hourly chart

   •  Bearish traders, however, are likely to wait for a convincing break below a short-term ascending trend-channel formation on the daily chart before placing any aggressive bets.

   •  Below the mentioned support, the pair is likely to break through the 1.1300 round figure mark and aim towards challenging multi-month lows support near the 1.1215 region.

Daily chart