EURUSD H4: Are Sellers Regaining Control?

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EURUSD H4: Are Sellers Regaining Control?EUR/USDOANDA:EURUSDDomicChainaEURUSD has just been rejected below the 1.1445 resistance area and has moved back under the EMA34. After several sessions of sideways movement, buying pressure is beginning to weaken as price continues to form lower recovery attempts and fails to hold above the short-term resistance zone. If selling pressure continues, the pair is likely to retest the 1.1360–1.1370 support area, where buyers previously stepped in. Meanwhile, the EMA89 remains above price and continues to reinforce the broader bearish structure on the H4 timeframe.