EURUSD | Daily Technical Outlook
Market Structure
EURUSD is attempting a short-term recovery after forming a base near recent lows. While price has bounced impulsively from demand, the broader structure on higher timeframes remains corrective, with the pair still trading below major resistance levels. Momentum has improved, but bullish control is not yet fully established.
Key Resistance Zone
Upside progress is capped by a layered resistance area:
• 1.1690 – 1.1710 (near-term supply and intraday reaction zone)
• 1.1740 – 1.1760 (major structure resistance and prior distribution area)
As long as price remains below 1.1740, upside moves are likely to face selling pressure.
Key Support Zone
Price is currently holding above an important demand region:
• 1.1630 – 1.1650 (short-term base and demand support)
A confirmed break below 1.1630 would expose deeper downside levels:
• 1.1600
• 1.1550 – 1.1570 (major daily demand and structural support)
This lower zone is critical to prevent a broader bearish continuation.
Expectations
Bullish Scenario (Alternative)
Sustained holding above 1.1650 followed by a clean break above 1.1710 would confirm short-term bullish continuation, opening the door for a move toward 1.1740–1.1760. A decisive break above 1.1760 would significantly weaken the bearish structure.
Bearish Scenario (Primary)
Failure to reclaim 1.1710, followed by a drop back below 1.1630, would signal that the current rebound is corrective. This would likely trigger renewed selling pressure toward 1.1600 and potentially the 1.1550–1.1570 support zone.
Outlook
EURUSD is showing early signs of stabilization, but the broader outlook remains cautious while price trades below major resistance. Bulls need a confirmed break above 1.1740 to shift structure decisively. Failure to hold current support would increase the risk of a renewed bearish extension.
