EURUSD | Euro Technical Outlook
Market Overview
EURUSD remains elevated after the strong upside move seen earlier this week, with price now stabilizing following the sharp rally. Momentum has cooled across lower timeframes, but the broader structure still favors buyers as long as key support levels hold. Current price action suggests consolidation rather than a full reversal.
Key Resistance Levels
The pair is currently capped below an important resistance zone:
- 1.1745 – 1.1760
This zone has limited further upside attempts and represents the level bulls need to clear to extend gains.
A confirmed break above 1.1760 could open the door toward:
- 1.1790
- 1.1830 (major upside target)
Key Support Levels
Immediate support is holding at:
- 1.1720 – 1.1700
This area aligns with short-term moving average support and has absorbed recent selling pressure.
A break below 1.1700 would expose:
- 1.1675
- 1.1640 (key H4 support)
Outlook
Bullish Scenario (Primary)
As long as EURUSD holds above 1.1700, the structure remains constructive. Consolidation above this level may act as a base for another bullish leg toward 1.1760 and higher.
Bearish Scenario (Alternative)
Failure to maintain 1.1700 could trigger a deeper corrective move toward 1.1675-1.1640, though this would still be considered a pullback within the broader recovery structure unless momentum accelerates lower.
Overall Outlook
EURUSD is transitioning from impulsive upside movement into a consolidation phase. The broader trend remains positive, but price needs a clear break above 1.1760 to regain momentum. Until then, range-bound trading between 1.1700 and 1.1760 is likely.
