EURUSD | Daily Technical Outlook
Market Structure
EURUSD has shifted into a strong bullish recovery, with price ripping higher from the recent base and reclaiming key mid-range levels. The latest impulse leg has pushed EURUSD up to around $1.1723 (current price on the chart), signaling aggressive demand and a clear momentum rotation in favor of buyers. While the broader daily structure still shows prior volatility, the current move looks like a bullish expansion phase, and the market is now trading at a critical decision zone where follow-through vs. rejection will define the next leg.
Key Resistance Zone
Upside progress is now pressing into a major supply ceiling:
- $1.1720 – $1.1740 (current rejection/decision zone)
- $1.1765 – $1.1800 (next extension resistance + psychological barrier)
A clean break and sustained hold above $1.1740 would strengthen continuation odds toward $1.1765–$1.1800.
Key Support Zone
Buyers have built a layered support structure below current price:
- $1.1685 – $1.1700 (breakout base / first demand retest zone)
- $1.1640 – $1.1660 (structural support and prior consolidation floor)
A decisive break down below $1.1640 would weaken the bullish reversal and reopen downside risk toward the lower range supports.
Expectations
Bullish Scenario (Primary)
As long as EURUSD holds above $1.1685, bulls are likely to remain in control. A confirmed breakout above $1.1740 could trigger continuation toward $1.1765–$1.1800, with momentum favoring dip-buying behavior.
Bearish Scenario (Alternative)
If price fails to hold $1.1685 and slips back below $1.1660, the move risks turning into a bull trap, exposing a deeper pullback toward prior demand zones. This would be corrective unless the market fully loses the $1.1640 structure.
Outlook
EURUSD is bullish in the near term, driven by a sharp breakout and strong multi-timeframe momentum. The pair is now testing a key resistance band near $1.1720–$1.1740; acceptance above it would likely unlock another upside expansion, while rejection could produce a controlled pullback into $1.1700–$1.1685 before the next directional decision.
