EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1676, attempting to recover after a prior bearish phase that lost momentum near recent lows. The pair has rebounded from the 1.1500 – 1.1520 region, forming an impulsive move higher toward the current consolidation near resistance.
On the daily timeframe, price is showing early signs of recovery after a broader corrective decline, with price attempting to reclaim key structure levels while approaching a notable resistance zone.
Key Resistance Zone
The immediate resistance is located at 1.1675 – 1.1700, which aligns with:
- A prior breakdown level on the daily timeframe
- Recent H4 rejection zone
- Short-term liquidity resting above recent highs
A confirmed breakout above this zone could open the path toward:
- 1.1740
- 1.1800 (major psychological and structural resistance)
As long as price remains below 1.1700, upside momentum may remain limited.
Key Support Zone
Immediate support is seen at 1.1630 – 1.1600, where price recently consolidated before pushing higher.
A breakdown below this level would expose:
- 1.1550
- 1.1500 – 1.1520 (key higher timeframe demand zone)
Further downside below 1.1500 would invalidate the current recovery structure.
Expectations
Bullish Scenario (Primary)
The short-term structure favors continued recovery while price holds above 1.1600.
A breakout above 1.1700 could lead to:
- A move toward 1.1740
- Extension toward 1.1800
Bearish Scenario (Alternative)
Failure to break above 1.1675 – 1.1700 may trigger a rejection.
This could result in:
- A pullback toward 1.1600
- A deeper move toward 1.1550
- Retest of 1.1500 if selling pressure strengthens
Outlook
EURUSD is showing signs of short-term strength following a recovery from recent lows, but price is now testing a critical resistance zone. The next directional move will likely depend on how price reacts around 1.1700.
A confirmed breakout would support further upside continuation, while rejection at resistance could shift the pair back into a corrective or bearish phase.
