EURUSD | Daily Technical Outlook
Market Structure
EURUSD has entered a clear bearish phase after decisively breaking below the 1.1700–1.1720 support zone. The breakdown confirms renewed downside pressure, with price forming lower highs and expanding bearish momentum across key timeframes.
The recent impulsive selloff signals strong seller commitment, shifting the broader bias to the downside unless the pair quickly reclaims broken support levels.
Key Resistance Zone
Immediate resistance is located at:
1.1680 – 1.1700
This area represents:
- Recent breakdown level
- Prior intraday support turned resistance
- Confluence with declining short-term moving averages
Stronger resistance stands at:
1.1750 – 1.1780
A sustained move above this zone would be required to neutralize the current bearish structure.
Key Support Zone
Immediate support is located at:
1.1600 – 1.1620
Below that, deeper downside opens toward:
1.1550 – 1.1580
A clean break below 1.1600 would likely accelerate bearish continuation.
Expectations
Bearish Scenario
As long as price remains below 1.1700, selling pressure is expected to persist. A break below 1.1600 may expose 1.1550 next.
Bullish Scenario
A recovery above 1.1700 could trigger a corrective rebound toward 1.1750. However, a broader structural shift would require strong daily acceptance above 1.1780.
Outlook
EURUSD remains structurally bearish following the breakdown below 1.1700. Sellers are in control, and rallies are likely to face resistance unless key levels are decisively reclaimed.
