EURUSD Technical Outlook
Market Overview
EURUSD is currently trading in a recovery phase after a prior corrective decline. The pair rebounded from a short-term demand zone and is attempting to rebuild bullish structure on lower timeframes. However, the broader picture still shows price capped below a key resistance area, keeping the medium-term bias neutral.
On higher timeframes, EURUSD remains within a range-like structure, with recent gains appearing corrective rather than the start of a strong trend expansion.
Key Resistance Levels
EURUSD is facing an important resistance zone at:
1.1730 – 1.1750
This area aligns with:
- Previous daily and H4 supply
- Prior rejection highs
- Flattening medium-term moving averages
A clean break and sustained hold above 1.1750 would improve bullish momentum and open the door toward:
- 1.1785
- 1.1820 (upper daily resistance)
As long as price remains below this zone, upside moves are still considered corrective rallies.
Key Support Levels
Immediate support is located at:
1.1700 – 1.1685
This zone represents:
- Recent intraday demand
- Short-term trend support on H1 and H4
If this level fails, downside risk increases toward:
- 1.1655
- 1.1620 (major daily support)
A confirmed break below 1.1685 would signal renewed bearish pressure.
Expectations
Bullish Scenario (Continuation Attempt)
If EURUSD holds above 1.1700 and breaks above 1.1750, price could extend higher toward:
- 1.1785
- 1.1820
This scenario requires strong momentum and clear acceptance above resistance.
Bearish Scenario (Range Rejection – Preferred Below Resistance)
Failure to reclaim 1.1750, followed by a break below 1.1700, would likely trigger a move toward:
- 1.1655
- 1.1620
This would confirm the current move as a corrective bounce within a broader range.
Overall Outlook
EURUSD is stabilizing after a pullback but has not yet confirmed a full bullish reversal. The market is currently balanced between short-term recovery and medium-term resistance pressure.
Price action between 1.1700 support and 1.1750 resistance will determine the next directional move. Until a breakout occurs, EURUSD is likely to remain range-bound with a cautious bullish bias in the very short term.
