EURAUD 4H chart reveals a clear descending channel pattern, indicating a sustained bearish trend. Price action continues to respect both the upper and lower boundaries of the channel, forming consistent lower highs and lower lows. Recently, the pair faced rejection from the upper boundary of the channel, confirming strong selling pressure from that resistance zone. This rejection suggests the potential for further downside movement as sellers maintain control within the channel. If bearish momentum persists, the pair could continue sliding toward the lower boundary of the formation, aligning with the prevailing downtrend. Overall, market sentiment remains negative unless a decisive breakout above the channel occurs which would signal a possible trend reversal.