EURUSD M30: Bearish outlook seen, further downside below 1.0040

On the M30 time frame, prices are facing bearish pressure from the resistance zone at 1.0040, in line with the 38.2% Fibonacci retracement and graphical support-turned-resistance zone. We could see further downside below this zone to the support zone at 0.9980. Stochastic is showing bearish divergence as well where we could see further downside in prices.