EURUSD: Holding Support Sets Up a Move Toward 1.1860 ResistanceEuro / U.S. DollarFOREXCOM:EURUSDRatnerHello everyone, here is my breakdown of the current EURUSD setup. Market Analysis EURUSD previously moved within a well-defined upward channel, showing strong bullish momentum and a clear sequence of higher highs and higher lows. Multiple breakout confirmations along the channel highlighted sustained buying interest and healthy trend continuation. This bullish phase eventually stalled near the 1.1860 resistance area, where price faced strong supply and failed to maintain acceptance above the range high. After this rejection, the market transitioned into a range and distribution phase, followed by a breakdown that led price into a descending channel. Within this bearish structure, sellers maintained control, pressing the market lower with consistent lower highs. Despite this, downside momentum gradually weakened as price approached the highlighted support zone around 1.1790, an area with previous demand and strong historical reactions. Currently, price reacted positively from this support zone and broke above the descending channel structure, supported by a rising triangle support line. This breakout suggests that bearish pressure is losing strength and that buyers are starting to regain control, at least in the short to medium term. My Scenario & Strategy As long as EURUSD holds above the 1.1790 support zone, the structure favors a bullish continuation. The current consolidation above support indicates accumulation rather than distribution. If buyers maintain acceptance above this level, the next logical upside target is the 1.1860 resistance area, which aligns with the previous range high and supply zone. A clean breakout and consolidation above 1.1860 would confirm renewed bullish momentum and open the path for further upside expansion toward higher liquidity zones. This level may initially act as a reaction zone, so partial profit-taking is reasonable there. However, if price fails to hold above the 1.1790 support and breaks back below the triangle support line, the bullish scenario would be invalidated. In that case, EURUSD could revisit lower demand areas and resume a broader corrective move. For now, the market structure favors long setups from support, with clear invalidation below key demand. As always, wait for confirmation and manage risk properly. That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.