EURUSD | Technical Outlook
Market Structure
EURUSD is showing a clear bearish continuation after failing to hold above recent consolidation highs. The pair has gradually shifted into a downward structure, with price forming lower highs and sustained movement below short-term moving averages.
The rejection from the 1.1600–1.1620 area triggered renewed selling pressure, pushing the pair back toward the 1.1550 region, where it is currently attempting to stabilize.
Key Resistance Zone
Immediate resistance is located at 1.1580 – 1.1600, aligning with recent breakdown structure and moving average confluence.
A break above this zone could open the path toward:
- 1.1620 – 1.1650 (strong H4 resistance)
- 1.1700 (major structural resistance)
Failure to reclaim this zone keeps the downside bias intact.
Key Support Zone
Initial support is seen at 1.1540 – 1.1520, where price is currently testing short-term demand.
A breakdown below this area could expose:
- 1.1500 (psychological support)
- 1.1450 (next major support zone)
Expectations
Bearish Scenario:
If EURUSD remains below 1.1600, the pair is likely to continue lower, with a break below 1.1520 confirming further downside toward 1.1500 and potentially 1.1450.
Bullish Scenario:
A recovery above 1.1600 would signal short-term strength, potentially leading to a corrective move toward 1.1620–1.1650. However, this would still be considered a pullback unless a sustained breakout occurs.
Outlook
The broader structure remains bearish, with price trading below key dynamic resistance levels. Unless buyers reclaim the 1.1600 zone, EURUSD is likely to remain under pressure in the near term.
