EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under sustained bearish pressure on the higher timeframes, with the broader structure still defined by lower highs and lower lows. After a strong selloff earlier in the session, price attempted a corrective rebound but failed to establish bullish follow-through. The recovery stalled near a prior intraday supply zone, and price has since transitioned into a tight consolidation phase, suggesting hesitation rather than strength.
Overall momentum remains corrective within a dominant bearish trend, with sellers still controlling the structure unless key resistance levels are reclaimed.
Key Resistance Zone
The nearest resistance area is now clearly defined by recent rejection and moving average confluence:
- $1.1625 – $1.1640 (intraday supply and breakdown retest zone)
- $1.1660 – $1.1680 (prior swing structure and bearish continuation zone)
As long as EURUSD trades below $1.1640, upside attempts are likely to remain capped and vulnerable to renewed selling pressure.
Key Support Zone
Support is currently holding around a short-term demand cluster:
- $1.1585 – $1.1600 (near-term base and reaction low)
- $1.1550 – $1.1570 (key structural support and bearish extension trigger)
A decisive break below $1.1585 would likely re-ignite bearish momentum and expose deeper downside levels.
Expectations
Bearish Scenario (Primary)
The dominant bias remains bearish while price holds below $1.1640.
A confirmed breakdown below $1.1585 could accelerate selling toward $1.1550, with scope for further extension if downside momentum strengthens.
Bullish Scenario (Alternative)
A sustained break and hold above $1.1640 would signal short-term stabilization and open the door for a corrective recovery toward:
• $1.1660
• $1.1680
Any bullish move into these zones would remain corrective unless accompanied by a clear shift in higher-timeframe structure.
Outlook
EURUSD continues to trade within a bearish framework, with current price action reflecting consolidation after a sharp selloff rather than a trend reversal. Sellers remain in control below $1.1640, while a break below $1.1585 could trigger the next bearish expansion phase. Until proven otherwise, rallies are likely to be sold, keeping downside risks firmly in focus.
