EURUSD | Technical Outlook
Market Structure
EURUSD is showing short-term bullish momentum after rebounding strongly from recent lows. On the M15 timeframe, price action is forming a sequence of higher highs and higher lows, signaling sustained buying pressure as the pair approaches a key resistance level around 1.1650.
The H1 chart confirms the recovery phase, with price breaking above short-term moving averages and pushing into a previously tested resistance zone. Meanwhile, the H4 timeframe shows that the pair is attempting a corrective rebound following a broader bearish phase seen earlier.
On the daily chart, EURUSD remains within a wider consolidation range after the recent downside move, suggesting the current rally may represent a corrective recovery within the broader structure.
Key Resistance Zone
Immediate resistance is located at:
1.1650 – 1.1670
This area represents:
- Recent intraday highs
- A previous breakdown level
- Short-term technical resistance
Stronger resistance stands at:
1.1700 – 1.1730
A sustained break above 1.1670 could strengthen bullish momentum.
Key Support Zone
Immediate support is located at:
1.1600 – 1.1620
Below that, stronger support stands at:
1.1550 – 1.1570
A break below 1.1550 could weaken the current recovery structure.
Expectations
Bullish Scenario
If EURUSD maintains support above 1.1620 and breaks 1.1670, buyers could target 1.1700, with potential extension toward 1.1730.
Bearish Scenario
Failure to break resistance may trigger a pullback toward 1.1600, with deeper downside possible toward 1.1570.
Outlook
EURUSD is attempting a short-term bullish recovery, but price is approaching a key resistance zone that may determine whether the rally extends or stalls.
