EURUSD | Technical Outlook
Market Structure
EURUSD has shifted from a prior bearish phase into a strong bullish recovery after failing to sustain downside pressure below the $1.1450 region. The recent price action reflects a clear reversal, with buyers stepping in aggressively and driving price higher.
The impulsive move from the $1.1450 – $1.1480 area pushed price toward the $1.1600 – $1.1620 region, where it is currently testing resistance after a sustained rally.
Key Resistance Zone
Immediate resistance is located at $1.1600 – $1.1620, where price is currently facing rejection after the recent bullish push.
A breakout above this zone could open the path toward:
- $1.1650
- $1.1700 (major resistance and prior structure level)
As long as price remains below $1.1620, short-term consolidation or pullback remains likely.
Key Support Zone
Initial support is seen at $1.1550 – $1.1530, representing recent higher lows and intraday structure.
A break below this level would expose deeper support at:
- $1.1500
- $1.1480 – $1.1450 (key demand zone and origin of the bullish move)
Holding above $1.1530 keeps the bullish structure intact.
Expectations
Bullish Scenario (Primary)
The current structure favors continued upside while price holds above $1.1530.
A break above $1.1620 would confirm bullish continuation toward $1.1650, with further extension toward $1.1700.
Bearish Scenario (Alternative)
Failure to break above $1.1620 could trigger a corrective pullback.
If $1.1530 is broken, EURUSD may decline toward $1.1500, with deeper downside toward $1.1450.
Outlook
EURUSD is maintaining a bullish recovery structure supported by strong upward momentum across lower timeframes. While resistance at $1.1620 is capping gains for now, a breakout would reinforce the bullish trend, whereas a break below $1.1530 would signal a deeper correction.
