EURUSD | Technical Outlook
Market Structure
EURUSD is trading within a renewed bearish phase after failing to hold recent recovery gains. Price action across the M15 and H1 timeframes shows increasing selling pressure, with momentum turning lower after rejection from recent highs.
The decline from the $1.1760 – $1.1780 area signals weakening bullish strength, while price is now pressing key support near $1.1725, indicating sellers are regaining short-term control.
On higher timeframes (H4 and Daily), the broader structure remains corrective within a larger range, but the recent downside move suggests a shift toward deeper retracement unless buyers’ step in decisively.
Key Resistance Zone
Immediate resistance is located at $1.1745 – $1.1760, where multiple moving averages and prior intraday highs converge. Any rebound toward this area is likely to face selling pressure.
Additional resistance levels:
• $1.1780 (key short-term cap)
• $1.1800 – $1.1820 (major bearish rejection zone)
As long as EURUSD trades below $1.1760, bearish momentum remains dominant.
Key Support Zone
Immediate support stands at $1.1720 – $1.1725, a level currently being tested.
A confirmed break below this zone would expose further downside targets:
• $1.1700
• $1.1665 – $1.1680 (major structural support)
Failure to hold above $1.1665 would suggest a deeper bearish continuation on higher timeframes.
Expectations
Bearish Scenario (Primary)
The outlook favors continued downside while price remains below $1.1760.
A break below $1.1720 could accelerate selling toward $1.1700, with potential extension to $1.1665.
Bullish Scenario (Alternative)
A sustained recovery above $1.1760 would signal short-term stabilization and open the door toward:
• $1.1780
• $1.1800 – $1.1820 (critical area to weaken the bearish bias)
Until then, upside moves are likely to remain corrective.
Outlook
EURUSD is under increasing bearish pressure, with sellers defending key resistance zones and pushing price toward important support levels. The structure remains bearish below $1.1760, while a clean break under $1.1720 could trigger a deeper pullback toward lower support zones.
