Strongest Selling Zones for EUR/USD on the 4-Hour Timeframe

The EUR/USD pair bounced off the previously identified daily supply zones and managed to decline, breaking the 4-hour support levels and forming strong sell-off zones on the same timeframe.

The outlook still points to a continued decline towards the lower demand zones near the 1.15750 level, as indicated on the chart.

Expected Selling Zones

Currently, we have several selling zones for the EUR/USD pair. The first supply zone, located near 1.1700, is considered one of the most important. If this level is tested, a further decline to the targets of 1.16700 and 1.16220 is expected.

However, if the 4-hour candle breaks and closes above the first supply zone, we may see a continuation of the upward movement towards the next sell zone near 1.17660, from which a further decline in the pair is expected.