EURUSD | Daily Technical Outlook
Market Structure
EURUSD is maintaining a broader bearish structure after failing to sustain its previous recovery phase. The recent rejection from the 1.1900 – 1.1950 region triggered renewed downside pressure, shifting momentum back in favor of sellers.
The decline has pushed the pair toward fresh lows near 1.1740, where price is currently attempting to stabilize after a sustained multi-session drop.
Key Resistance Zone
The nearest resistance now sits at 1.1790 – 1.1820, a zone formed by the recent breakdown and aligned with short-term moving averages. Any upward retracement is likely to face selling pressure here.
Additional resistance levels:
- 1.1850
- 1.1900 – 1.1950 (major bearish rejection zone)
As long as EURUSD trades below 1.1820, bearish momentum remains in control.
Key Support Zone
Immediate support lies around 1.1740 – 1.1750, where the current decline temporarily paused.
A breakdown below 1.1740 would further intensify bearish pressure, exposing lower targets:
- 1.1700
- 1.1650 – 1.1670 (major structural support)
A failure to hold 1.1650 would significantly deepen the downtrend.
Expectations
Bearish Scenario (Primary)
The current momentum favors continued downside as long as price stays below 1.1820.
If 1.1740 breaks, expect EURUSD to accelerate toward 1.1700, with room to extend toward 1.1650.
Bullish Scenario (Alternative)
A recovery above 1.1820 would be the first sign of temporary stabilization, opening the door toward:
- 1.1850
- 1.1900 (a key barrier that must be reclaimed to weaken the bearish trend)
Until then, upside attempts are likely to be corrective in nature.
Outlook
EURUSD remains under sustained downside pressure, with sellers maintaining dominance after breaking key support levels. The structure stays bearish unless price reclaims levels above 1.1820, while a break below 1.1740 could accelerate the decline toward deeper support zones.
