EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under sustained bearish pressure across multiple timeframes after failing to hold above the 1.1750–1.1800 resistance zone earlier in the year. The pair has continued forming lower highs and lower lows, confirming a dominant downward trend on the daily and H4 charts.
Recent price action shows the pair attempting a short-term stabilization near the 1.1550 support area, where buyers are trying to slow the decline after the strong bearish move seen over the past weeks.
Key Resistance Zone
Immediate resistance is located at:
1.1600 – 1.1625
This zone represents:
- Recent intraday rejection levels
- Prior consolidation area
- Confluence with declining short-term moving averages
Stronger resistance stands at:
1.1680 – 1.1720
A sustained move above 1.1625 would be required to ease the immediate bearish pressure.
Key Support Zone
Immediate support is located at:
1.1520 – 1.1550
Below that, further downside opens toward:
1.1470 – 1.1500
A decisive break below 1.1520 could accelerate the bearish continuation.
Expectations
Bearish Scenario
As long as EURUSD remains below 1.1625, the pair may continue trading with a bearish bias. A break below 1.1520 could expose 1.1500 and potentially 1.1470.
Bullish Scenario
A recovery above 1.1625 could trigger a corrective rebound toward 1.1680. However, a broader bullish recovery would require a sustained break above 1.1720.
Outlook
EURUSD remains in a clear medium-term downtrend, with sellers maintaining control of the market. While short-term consolidation may occur near current levels, the broader bias remains bearish unless key resistance levels are reclaimed.
