EURUSD | Technical Outlook
Market Overview
EURUSD is trading in a post-decline consolidation phase after a clear bearish move that pushed price lower from recent highs. The selloff weakened the prior bullish structure, shifting the short-term bias to neutral-to-bearish.
On lower timeframes, price action shows stabilization rather than recovery. The market is moving sideways with limited momentum, suggesting that the current rebound is corrective and not yet a trend reversal.
Key Resistance Levels
EURUSD remains capped below a key resistance zone:
$1.1745 – $1.1760
This area coincides with:
- Previous breakdown structure
- Short-term descending moving averages
- Repeated intraday rejection
A sustained break and hold above $1.1760 would signal improving momentum and open the door toward:
- $1.1790
- $1.1820 (upper H4 resistance)
As long as price stays below this zone, upside moves are viewed as corrective.
Key Support Levels
Immediate support is located at:
$1.1705 – $1.1690
This zone represents:
- Recent reaction lows
- Short-term demand where buyers have attempted to stabilize price
If this support fails, downside risk increases toward:
- $1.1665
- $1.1620 (key daily support)
A clear break below $1.1690 would confirm continuation of the bearish move.
Expectations
Bullish Scenario (Stabilization & Recovery Attempt)
If EURUSD holds above $1.1690 and reclaims $1.1760, price could extend higher toward:
- $1.1790
- $1.1820
This scenario requires stronger bullish candles and acceptance above resistance.
Bearish Scenario (Continuation Risk – Preferred Below Resistance)
Failure to break $1.1760, followed by a breakdown below $1.1690, would likely resume selling pressure toward:
- $1.1665
- $1.1620
Overall Outlook
EURUSD remains in a corrective consolidation following a bearish impulse. While short-term stabilization is visible, the pair has not confirmed a bullish reversal.
Price action between $1.1690 support and $1.1760 resistance will define the next directional move. Until a breakout occurs, the outlook remains range-bound with a bearish bias.
