Outlook on EURUSD: Bearish play seen

On the H4 time frame, prices reversed below a key resistance zone with the supply chain being formed and respected on the M30 time frame. A pullback to test the resistance zone 1.14408, in line with the descending trend line, 78.6% Fibonacci retracement, 78.6% and 127.2% Fibonacci extension presents an opportunity to play the drop to the next support target at 1.13027, which coincides with the 50% Fibonacci retracement.