EUR/USD - Major Support Play, Rebound Toward 1.139 EUR/USDOANDA:EURUSDAuricVerse_HQEURUSD remains inside a broader descending channel, with price still trading below the Ichimoku cloud. However, the latest decline has now reached the lower side of the channel near 1.1160, an area that also aligns with an important support level. At this stage, Iām not looking to chase the bearish move. If buyers can continue defending the 1.1160 area and price starts recovering from the lower channel boundary, a corrective rebound becomes increasingly possible. The first area I would watch on the upside is: šÆ Target Zone: 1.1335ā1.1393 This region previously acted as support and now represents the next major resistance, while also overlapping with the Ichimoku structure above. Macro Market: the Euro remains under pressure from French fiscal concerns and a still-hawkish Fed backdrop. However, the US Dollar has started pulling back from an 18-month high, while Treasury yields eased after strong demand at the latest US bond auction, creating some room for a short-term EURUSD recovery. A sustained H8 break below 1.1160 would weaken this rebound setup and keep the broader bearish trend firmly in control. AURICVERSE View: this is a recovery setup inside a larger downtrend, not yet a bullish reversal. If 1.1160 continues to hold, EURUSD could rotate back toward 1.1335ā1.1393, where the next major battle between buyers and sellers is likely to develop.