EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under strong bearish pressure after breaking below the 1.1600 support zone, confirming the continuation of the broader downtrend visible across higher timeframes. The recent impulsive decline reflects increasing selling momentum, with price forming lower highs and lower lows across intraday and swing structures.
The breakdown below the recent consolidation range signals that sellers remain firmly in control unless the pair quickly recovers above the broken support level.
Key Resistance Zone
Immediate resistance is located at:
1.1600 – 1.1620
This zone represents:
- Recent breakdown level
- Prior consolidation support turned resistance
- Confluence with short-term moving averages
Stronger resistance stands at:
1.1670 – 1.1700
A sustained move above 1.1620 would be required to ease immediate downside pressure.
Key Support Zone
Immediate support is located at:
1.1540 – 1.1560
Below that, further downside opens toward:
1.1500 – 1.1515
A decisive break below 1.1540 could accelerate the bearish continuation.
Expectations
Bearish Scenario
As long as EURUSD remains below 1.1620, selling pressure is expected to persist. A break below 1.1540 may expose 1.1500 as the next downside target.
Bullish Scenario
A recovery above 1.1620 could trigger a corrective rebound toward 1.1670. However, a structural shift would require strong acceptance above 1.1700.
Outlook
EURUSD remains structurally bearish following the breakdown below 1.1600. Sellers maintain control, and rallies are likely to face resistance unless key levels are decisively reclaimed.
