EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under bearish pressure after a strong impulsive decline that pushed the pair below several key support levels. The recent drop reflects strong dollar demand, with price forming clear lower highs and lower lows across the higher timeframes.
Following the sharp selloff toward the 1.1550 region, the pair has started a modest recovery, attempting to stabilize around 1.1600–1.1620. However, the broader structure remains bearish unless price manages to reclaim higher resistance levels.
Short-term price action currently reflects a corrective rebound within a larger downtrend.
Key Resistance Zone
Immediate resistance is located at:
1.1650 – 1.1680
This zone represents:
- Recent breakdown area
- Previous intraday consolidation support turned resistance
- Confluence with declining short-term moving averages
Stronger resistance stands at:
1.1720 – 1.1750
A sustained move above 1.1680 would be required to weaken the current bearish pressure.
Key Support Zone
Immediate support is located at:
1.1550 – 1.1570
Below that, further downside opens toward:
1.1480 – 1.1500
A decisive break below 1.1550 could trigger another leg lower.
Expectations
Bearish Scenario
As long as EURUSD remains below 1.1680, selling pressure may persist. A break below 1.1550 could expose 1.1500 as the next downside target.
Bullish Scenario
If the pair manages to reclaim 1.1680, a corrective rebound toward 1.1720–1.1750 may unfold. However, a structural shift would require sustained strength above 1.1750.
Outlook
EURUSD remains structurally bearish after the recent breakdown, with the current rebound likely representing a corrective phase. Sellers continue to dominate the broader trend unless key resistance levels are decisively reclaimed.
