EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under sustained bearish pressure, with price continuing to respect a lower-high, lower-low structure across the timeframes. After failing to hold above the mid-range recovery, the pair rolled over and resumed its decline, confirming that sellers remain firmly in control.
Recent rebounds have been corrective in nature, with price repeatedly capped by descending resistance and moving averages, reinforcing the broader downside bias.
Key Resistance Zone
Immediate resistance is defined by the recent breakdown area and prior intraday highs:
- $1.1685 – $1.1700 (near-term supply and trend resistance)
- $1.1730 – $1.1750 (major rejection zone and structure cap)
As long as EURUSD trades below $1.1700, upside attempts are likely to remain limited and corrective.
Key Support Zone
Price is currently pressing against an important support base:
- $1.1670 – $1.1680 (short-term support under pressure)
A confirmed break below this zone would expose lower downside targets:
- $1.1650
- $1.1620 – $1.1600 (major daily demand and structural support)
Expectations
Bearish Scenario (Primary)
Continuation to the downside remains favored while price holds below $1.1700. A clean break beneath $1.1670 would likely accelerate selling toward $1.1650 and potentially the $1.1620–$1.1600 demand zone.
Bullish Scenario (Alternative)
A recovery above $1.1700 would be the first signal of short-term stabilization, opening room for a corrective bounce toward $1.1730. However, only a sustained reclaim above $1.1750 would meaningfully weaken the bearish structure.
Outlook
EURUSD remains technically bearish, with sellers controlling structure after repeated failed recoveries. While short-term bounces are possible, the broader outlook stays negative unless price can reclaim key resistance above $1.1700. A breakdown below $1.1670 would reinforce downside momentum and expose deeper support levels.
