The EUR/USD currency pair has shown significant bearish tendencies, with a strong rejection candle on Friday and a bearish opening this week. This marks the start of a new bearish leg on the 11-month Channel Up, the third since July 2023. Analysts from City Index suggest that EUR/USD is in a corrective phase, with resistance at 1.1100 and 1.1140. If these levels are broken, the next target for bulls is 1.1200. The pair is currently testing a level of 1.1065, and a break below 1.1012 could lead to 1.0995 and 1.0980, while a break above 1.1037 could test levels up to 1.1067. Additionally, a minimum 1D MA200 test is expected, with the first target at 1.09000.