EURUSD | Daily Technical Outlook
Market Structure
EURUSD is showing signs of short-term stabilization after a sharp sell-off, with buyers stepping in aggressively from the recent lows and pushing price back toward the mid-range. Intraday structure has shifted into a rebound phase (higher lows on the lower timeframes), but the broader bias remains corrective as price is still trading below key recovery ceilings from prior breakdown areas.
Momentum is improving on the intraday charts, yet the move still looks like a corrective bounce unless EURUSD can reclaim and hold above the next resistance band.
Key Resistance Zone
Upside progress is capped by a layered supply area:
- 1.1675 – 1.1685 (near-term resistance / rebound ceiling)
- 1.1700 – 1.1710 (major structure level and key reclaim zone)
A sustained push above 1.1700 would be the first meaningful signal that the downside pressure is weakening.
Key Support Zone
Price is holding above an important demand region:
- 1.1650 – 1.1640 (intraday base and first support)
If EURUSD breaks below 1.1640, sellers could regain control and pressure deeper supports:
- 1.1620 – 1.1600
- 1.1565 – 1.1550 (major downside extension zone)
Expectations
Bullish Scenario (Primary)
If EURUSD holds above 1.1640 and builds acceptance above 1.1675, the rebound can extend toward 1.1700–1.1710. A clean break and hold above 1.1710 would open room for a broader recovery toward the next upper resistance zone near 1.1740.
Bearish Scenario (Alternative)
If EURUSD fails to clear 1.1675–1.1685 and slips back below 1.1640, the bounce likely fades into another bearish leg. A breakdown would expose 1.1620–1.1600 first, with risk of a deeper slide toward 1.1565–1.1550 if selling accelerates.
Outlook
EURUSD is in a corrective rebound, supported by improving intraday structure, but it remains technically vulnerable until it reclaims 1.1700–1.1710. As long as price holds above 1.1640, buyers have a window to extend the recovery. A loss of 1.1640 would shift control back to sellers and raise the probability of renewed downside continuation.
