EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under sustained bearish pressure, with price action continuing to form lower highs and lower lows across intraday and higher timeframes. Recent rebounds have been corrective in nature and have failed to alter the prevailing downside structure. Momentum remains tilted to the downside as price trades below key moving averages, reinforcing the short-term bearish bias within a broader corrective phase.
Key Resistance Zone
Upside attempts are capped by a clear resistance band:
- 1.1700 – 1.1720 (near-term supply and intraday rejection zone)
- 1.1750 – 1.1780 (major structure resistance and prior breakdown area)
As long as EURUSD trades below 1.1720, bullish recoveries are likely to remain limited and vulnerable to renewed selling pressure.
Key Support Zone
Price is currently testing an important demand area:
- 1.1640 – 1.1660 (psychological support and short-term base)
A confirmed break below 1.1640 would expose deeper downside levels:
- 1.1600
- 1.1550 – 1.1570 (major daily demand and structural support)
This lower zone is critical in preventing a broader bearish extension.
Expectations
Bearish Scenario (Primary)
Failure to reclaim 1.1700 keeps sellers in control. A clean break below 1.1640 could accelerate downside momentum toward 1.1600 and potentially the 1.1550–1.1570 support zone.
Bullish Scenario (Alternative)
Holding above 1.1640 followed by a sustained reclaim of 1.1720 would signal short-term stabilization and allow for a corrective rebound toward 1.1750. However, only a sustained break above 1.1780 would meaningfully weaken the bearish structure.
Outlook
EURUSD remains technically bearish in the short term, with sellers firmly controlling structure below key resistance. While the 1.1640–1.1660 zone may offer temporary support, the broader outlook stays cautious unless price can reclaim levels above 1.1720. A failure to hold current support would increase the risk of a deeper downside move.
