EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains in a slow upward correction, but recent candles show fading bullish momentum as the pair struggles to sustain moves above 1.1670. After a steady rise from last week’s lows around 1.1500, the pair is now showing hesitation near a key resistance area, with intraday charts reflecting weakening buying pressure.
Price action on the lower timeframes (M15-H1) shows repeated failures to hold gains above 1.1665-1.1680, suggesting temporary buyer exhaustion. The broader structure still leans mildly bullish, but momentum indicators show early signs of slowing.
Key Resistance Zone
The pair is currently testing an important resistance at:
- 1.1670 – 1.1680 (current cap on bullish attempts)
Additional upside barriers:
- 1.1705
- 1.1740
- 1.1780 (major bullish continuation level)
Failure to break 1.1680 weakens the bullish scenario and increases the probability of a short-term correction.
Key Support Zone
Immediate support lies at:
- 1.1645 – 1.1650 (short-term stabilizing zone)
A break below this region opens the door toward:
- 1.1605
- 1.1560 (medium-term structural support)
- 1.1500 (major bearish continuation zone)
A drop below 1.1500 would signal a shift back into a broader bearish trend.
Expectations
Bearish Scenario (Primary)
EURUSD is vulnerable to a correction while trading below 1.1680.
If price breaks 1.1650, expect bearish movement toward:
- 1.1605
- 1.1560
A deeper decline could test 1.1500.
Bullish Scenario (Alternative)
A strong breakout above 1.1680 would signal renewed bullish strength.
Upside targets include:
- 1.1705
- 1.1740
- 1.1780 (trend continuation confirmation)
However, unless price closes above 1.1680, upside attempts remain limited.
Outlook
EURUSD is consolidating below resistance with signs of bullish exhaustion.
As long as the pair stays under 1.1680, the risk of a short-term pullback remains high. A break below 1.1650 may trigger stronger selling pressure toward lower support areas.
