EUR/USD Price Analysis: Bears eye a break of 1.0960s for prospects of fresh cycle lows

• EUR/USD bears are on the prowl below 1.10 the figure. 
• There are prospects of a fresh cycle low in the coming days.

EUR/USD is starting out the week trapped between support and resistance but leans with a bearish bias within a strong bearish trend. The following illustrates the market structure from both a long and shorter-term perspective.

EUR/USD weekly chart

As illustrated, the price is correcting the last bearish impulse and bears are moving in.

EUR/USD H4 chart

EUR/USD has broken below trendline support but has since formed a sideways channel following a restest of the counter trendline. The bears will need to break support at which point, there will be prospects of a downside continuation and fresh cycle lows.