EURUSD | Daily Technical Outlook
Market Structure
EURUSD is attempting a short-term recovery after finding support near the $1.1750–$1.1780 region. On the daily timeframe, price remains within a broader consolidation structure following the strong rally toward the $1.2050 area earlier in the cycle.
Recently, the pair rebounded from the mid-range support and is now pushing back toward the $1.1830–$1.1850 resistance zone. While momentum has improved on lower timeframes (M15/H1), the higher timeframe structure still reflects range-bound conditions rather than a confirmed bullish breakout.
Key Resistance Zone
The immediate resistance stands at:
- $1.1830 – $1.1850 (range midpoint & supply zone)
A sustained break above $1.1850 would expose:
- $1.1900
- $1.1950
- $1.2000 (major psychological barrier)
Failure to break and hold above $1.1850 may trigger renewed selling pressure within the broader range.
Key Support Zone
Immediate support is located at:
- $1.1780 – $1.1750 (recent demand zone)
- A breakdown below $1.1750 would shift momentum back to the downside, targeting:
- $1.1700
- $1.1650
- $1.1600 (major structural support)
Losing $1.1600 would significantly weaken the medium-term structure.
Expectations
Bullish Scenario (Primary)
If EURUSD holds above $1.1780 and breaks $1.1850, buyers could extend gains toward $1.1900 and potentially $1.1950. A sustained move above $1.2000 would confirm a broader bullish continuation.
Bearish Scenario (Alternative)
Rejection below $1.1850 may lead to another pullback toward $1.1780. A decisive break under $1.1750 would open the door for a deeper decline toward $1.1700 and below.
Outlook
EURUSD is recovering within a broader consolidation range. Short-term momentum favors buyers, but the pair must clear $1.1850 to confirm upside continuation. Until then, price action may remain choppy between $1.1750 and $1.1850.
