After taking a real plunge from 1.3640, the US dollar has finally found support to rebound. On this 4-hour chart, the pair is trending downward within a channel. However, the market could gain ground if the upper limit breaks.
First of all, prices form a reversal chart pattern with a "double bottom", so crossing the neckline at 1.3230 should lead to a bullish acceleration. The theoretical objective would therefore be to seek resistance towards 1.3330.
However, if this fails, on the upper bound of the channel, the pair may consolidate within a range between 1.3230 and 1.3140. So, only the exit of one of the two terminals will allow the momentum to come.