EUR/USD 4H: Approaches Support Ahead of U.S. CPI!Euro vs US DollarCFI:EURUSDCFIEUR/USD remains within a well-defined ascending channel, with higher highs and higher lows supporting the recovery from the late-July breakout. However, recent price action has drifted lower, bringing the pair back toward the lower trendline of the structure. Trendline Support Under Pressure The rising trendline, which has guided the advance since the end of July, is now being tested near 1.1530–1.1540. Recent candles show sellers gaining short-term control, pushing price back toward this support area after failing to hold near the channel highs. 1.1434 Remains the Major Structural Pivot The 1.1434 level continues to stand out as the most important support level on the chart. The volume profile highlights this area as the largest concentration of historical trading activity, making it a significant value zone beneath the current price. Volume Profile Supports the Broader Uptrend Most of the trading activity is concentrated between 1.1400 and 1.1450, with the Point of Control around 1.1434. As long as EUR/USD remains above this high-volume region, the broader recovery structure remains intact. Channel Resistance Caps Upside The upper trendline of the channel, currently intersecting near 1.1580–1.1600, remains the key resistance zone. Previous rallies struggled to establish acceptance above this region, resulting in the latest pullback. RSI Slips Back Toward Neutral The RSI has declined to around 49, falling below its moving average and returning to neutral territory. This reflects a loss of bullish momentum following the recent rejection near the top of the channel, although momentum has not yet turned decisively bearish.