EURUSD | Daily Technical Outlook
Market Structure
EURUSD remains under sustained bearish pressure on higher timeframes, with price action continuing to respect a sequence of lower highs and lower lows. Recent rebounds on intraday charts appear corrective rather than impulsive, suggesting that sellers remain in control of the broader structure. While short-term stabilization has emerged after the latest sell-off, upside momentum remains limited below key resistance, keeping the medium-term bias cautious unless a structural reclaim occurs.
Key Resistance Zone
Upside attempts are capped by a well-defined supply area:
- 1.1655 – 1.1670 (near-term resistance and prior intraday support turned supply)
• 1.1700 – 1.1730 (key structure resistance and breakdown zone)
As long as EURUSD trades below 1.1700, rallies are likely to face selling pressure.
Key Support Zone
Price is currently holding above an important demand region:
- 1.1620 – 1.1635 (short-term support and recent reaction base)
- 1.1580 – 1.1600 (major daily support and broader demand zone)
A confirmed break below 1.1600 would expose deeper downside risk toward lower daily supports.
Expectations
Bearish Scenario (Primary)
Failure to reclaim 1.1670–1.1700 would keep the bearish structure intact. A breakdown below 1.1620 could accelerate losses toward the 1.1580–1.1600 support zone, reinforcing downside continuation.
Bullish Scenario (Alternative)
Holding above 1.1620 followed by a sustained break above 1.1700 would signal short-term stabilization and open the door for a corrective recovery toward 1.1730 and potentially higher. This scenario would remain corrective unless higher resistance levels are decisively cleared.
Outlook
EURUSD remains technically bearish overall, with sellers controlling structure below key resistance levels. While short-term consolidation may persist near current support, the broader outlook stays cautious unless price can reclaim the 1.1700 zone. A failure to hold near-term support would increase the probability of a deeper downside continuation.
