EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains in a broader bullish structure, supported by a strong impulsive rally that lifted price decisively from prior lows. However, after reaching recent highs, momentum has slowed, and the pair has transitioned into a corrective consolidation phase.
Price action is now characterized by lower highs on the short term, reflecting profit-taking rather than a confirmed trend reversal, while the overall structure still favors buyer’s above key support.
Key Resistance Zone
Immediate resistance is located around 1.1985 – 1.2000, an area where upside attempts have recently stalled. This zone represents short-term supply following the prior impulsive move.
Additional resistance levels:
- 1.2035
- 1.2070 – 1.2100 (upper resistance and recent peak)
As long as EURUSD remains capped below 1.2000, upside momentum is likely to remain limited.
Key Support Zone
Initial support is found near 1.1940 – 1.1950, where price is currently attempting to stabilize.
A deeper pullback would expose the next support zone:
- 1.1880 – 1.1900 (key structural support)
A sustained break below 1.1880 would weaken the bullish structure and increase the risk of a broader corrective move.
Expectations
Bullish Scenario (Primary)
As long as EURUSD holds above the 1.1880–1.1900 support zone, the broader bullish bias remains intact. Stabilization above current levels could allow price to rebuild momentum and challenge the 1.2000 resistance, with scope for continuation toward higher levels.
Bearish Scenario (Alternative)
A clear break below 1.1880 would confirm deeper corrective pressure, opening the door toward lower support zones and extending the consolidation phase before any potential trend resumption.
Outlook
EURUSD is currently consolidating after a strong bullish impulse, with momentum cooling but structure still favoring buyer’s above key support. While short-term pressure persists below 1.2000, the broader outlook remains constructive unless price decisively breaks below the 1.1880 region.
