EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under broader corrective pressure after failing to sustain its recovery above the 1.1900 area on the higher timeframes. The daily chart shows price rotating lower from the 1.1950 – 1.2000 zone, confirming a sequence of lower highs and reinforcing the medium-term bearish bias.
The recent rebound toward 1.1850 was met with renewed selling pressure, pushing the pair back toward the 1.1780 – 1.1800 region, where price is currently attempting to stabilize. Momentum remains fragile as the pair continues to trade below key moving averages on H4.
Key Resistance Zone
The nearest resistance now sits at 1.1820 – 1.1850, an area formed by the latest rejection and aligned with short-term dynamic resistance. Any upward retracement into this zone is likely to attract selling interest.
Additional resistance levels:
- 1.1900
- 1.1950 – 1.2000 (major structural resistance zone)
As long as EURUSD trades below 1.1850, bearish pressure remains dominant.
Key Support Zone
Immediate support lies around 1.1780 – 1.1800, where price is currently consolidating.
A breakdown below 1.1780 would expose lower targets:
- 1.1720
- 1.1650 – 1.1680 (major structural support)
A failure to hold 1.1650 would significantly deepen the corrective decline.
Expectations
Bearish Scenario (Primary)
The current structure favors continued downside as long as price remains below 1.1850.
If 1.1780 breaks, expect acceleration toward 1.1720, with potential extension toward 1.1650.
Bullish Scenario (Alternative)
A recovery above 1.1850 would be the first sign of temporary stabilization, opening the door toward:
- 1.1900
- 1.1950 (a key barrier that must be reclaimed to weaken the bearish bias)
Until then, upside attempts are likely to remain corrective.
Outlook
EURUSD remains under downside pressure within a corrective bearish structure, with sellers maintaining control below key resistance levels. Unless the pair reclaims levels above 1.1850, risks remain tilted to the downside, while a break below 1.1780 could trigger a deeper pullback toward major support.
