EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains within a recovering bullish structure after rebounding from November lows, but momentum has clearly slowed as price stalls below the $1.1670 resistance region.
The pair has been trading sideways across intraday timeframes, showing hesitation from both buyers and sellers. Although the broader structure leans slightly bullish, repeated failures to extend gains above $1.1665-$1.1680 reflect weakening upward pressure.
The H4 chart shows a series of higher lows, but also consistent rejections around the same ceiling, indicating consolidation rather than clean trend continuation.
Key Resistance Zone
Immediate upside barriers sit at:
- $1.1665 – $1.1680 (major intraday supply + repeated rejection zone)
- $1.1710 (short-term bullish breakout level)
- $1.1760 (October structural resistance)
A decisive break above $1.1680 is required to re-establish bullish continuation toward the next higher levels.
Key Support Zone
EURUSD remains supported by:
- $1.1630 (intraday demand)
- $1.1600 – $1.1610 (strong H4 support + psychological level)
Below that, deeper corrective levels include:
- $1.1565 (medium-term support)
- $1.1500 (major daily structure support)
A break below $1.1600 would signal the start of a meaningful bearish correction.
Expectations
Bullish Scenario (Primary Bias)
As long as EURUSD holds above $1.1630, buyers maintain structural control.
A break above $1.1680 would target:
- $1.1710
- $1.1760
- $1.1800
However, current price action shows clear loss of momentum, so bulls need stronger volume to force a breakout.
Bearish Scenario (Alternative)
If sellers push the pair below $1.1630, corrective pressure may increase.
Downside targets:
- $1.1600 – $1.1610
- $1.1565
A close below $1.1565 would shift the medium-term outlook toward a deeper retracement.
Outlook
EURUSD is currently neutral-to-bullish but losing strength as it trades in a tight consolidation zone. Markets await catalysts, particularly U.S. labor data and inflation expectations, to determine whether the pair will break resistance or fall back into correction.
- Above 1.1680 → bullish continuation
- Below 1.1630 → correction likely
