EURUSD | Technical Outlook
Market Structure
EURUSD is experiencing a renewed bearish continuation after failing to sustain its recent recovery phase. The latest rejection from the 1.1600 area triggered a sharp impulsive decline, pushing price lower toward the 1.1520 region where it is currently stabilizing.
Across timeframes, the structure shows a clear shift back to downside pressure, with lower highs forming and moving averages aligning bearishly.
Key Resistance Zone
The nearest resistance is located at 1.1580 – 1.1600, a key rejection zone from the recent breakdown.
Additional resistance levels:
- 1.1630
- 1.1670 (major resistance on higher timeframe)
As long as price remains below 1.1600, bearish momentum is likely to persist.
Key Support Zone
Immediate support lies at 1.1515 – 1.1500, where price is currently attempting to hold.
A breakdown below this zone would expose:
- 1.1470
- 1.1430 – 1.1400 (major structural support)
Failure to hold 1.1500 would confirm further downside continuation.
Expectations
Bearish Scenario (Primary)
The current structure favors continued downside while price remains below 1.1600.
A break below 1.1500 could accelerate losses toward:
- 1.1470
- 1.1430
Bullish Scenario (Alternative)
A recovery above 1.1600 would be the first sign of stabilization, opening the door toward:
- 1.1630
- 1.1670
However, upside attempts are likely to face strong selling pressure unless this level is reclaimed.
Outlook
EURUSD remains under bearish pressure following a strong rejection from key resistance, with sellers regaining control of the short-term structure. The bias stays negative below 1.1600, while a break below 1.1500 could trigger a deeper move toward lower support levels.
