EURUSD | Technical Outlook
Market Overview
EURUSD is trading in a corrective-to-neutral phase after failing to sustain upside momentum. The recent rebound has lost strength, and price is now drifting lower, suggesting short-term selling pressure while the broader structure remains range bound.
Across intraday charts, momentum has cooled, with price slipping below short-term moving averages. This points to consolidation rather than a strong trend continuation.
Key Resistance Levels
EURUSD faces near-term resistance at:
- 1.1745 – 1.1760
This zone represents:
- The recent pullback high
- Confluence with short-term moving averages
A clear break and hold above this area would open the door toward:
- 1.1790
- 1.1820
Until then, upside moves are likely corrective.
Key Support Levels
Immediate support is located at:
1.1720 – 1.1710
This level has acted as a short-term demand area.
If price breaks below this zone, downside pressure could extend toward:
- 1.1685
- 1.1650 (broader structure support)
A clean break below 1.1710 would confirm renewed bearish momentum.
Expectations
Bullish Scenario (Stabilization & Bounce)
If price holds above 1.1710 and reclaims 1.1760, EUR/USD could attempt a recovery toward:
- 1.1790
- 1.1820
This scenario requires improving momentum and strong hourly closes.
Bearish Scenario (Continuation Lower)
Failure to regain 1.1760 followed by a break below 1.1710 would likely resume downside pressure toward:
- 1.1685
- 1.1650
This remains the preferred scenario while price stays capped below resistance.
Overall Outlook
EURUSD is not trending strongly at the moment. Price action suggests sideways-to-bearish consolidation, with sellers maintaining control below key resistance.
The next directional move will depend on whether price holds above 1.1710 support or breaks lower. Until a clear breakout occurs, the pair is likely to remain choppy with a mild bearish bias.
