EUR/USD Price Analysis: Stuck in a bearish channel on the 15-min chart

• EUR/USD has carved out a falling channel on the 15-minute chart. 
• A breakout will likely accelerate the preceding uptrend from 1.17.

EUR/USD's immediate bias remains neutral, with the exchange rate trapped in a bearish channel on the 15-minute chart. 

A move through the upper end of the falling channel, currently at 1.1772, would signal a resumption of the rally from Oct. 19 lows near 1.17 and open the doors for 1.18. 

However, a daily close above the Oct. 9 high of 1.1831 is needed to revive the broader bullish outlook. 

Alternatively, a break below 1.1760 could invite stronger selling pressure, yielding a deeper pullback to 1.1740.  The area around 1.1760 has offered support three times over the past 24 hours. 

15-minute chart

Trend: Bullish above 1.1772

Technical levels