EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1688, stabilizing after a corrective pullback that followed a recent bullish impulse. The prior move from the 1.1500 – 1.1550 region pushed price higher toward 1.1720+, where it faced rejection and is now consolidating near a mid-range resistance level.
On the daily timeframe, the broader structure shows early signs of recovery after a bearish phase, with price attempting to build higher lows while testing a key horizontal resistance.
Key Resistance Zone
The immediate resistance is located at 1.1690 – 1.1720, supported by:
- Recent H4 rejection highs
- Prior supply zone
- Liquidity resting above recent highs
A breakout above this zone could open the path toward:
- 1.1760
- 1.1800 (major psychological and structural resistance)
As long as price remains below 1.1720, upside may remain limited.
Key Support Zone
Immediate support is seen at 1.1650 – 1.1620, where price recently found buying interest.
A breakdown below this level would expose:
- 1.1580
- 1.1500 – 1.1520 (key higher timeframe demand zone)
Further downside below 1.1500 would invalidate the recovery structure.
Expectations
Bullish Scenario (Primary)
The structure favors continued recovery while price holds above 1.1620.
A breakout above 1.1720 could lead to:
- A move toward 1.1760
- Extension toward 1.1800
Bearish Scenario (Alternative)
Failure to break above 1.1690 – 1.1720 may trigger a rejection.
This could result in:
- A pullback toward 1.1650
- A breakdown toward 1.1580
- Retest of 1.1500 if selling pressure strengthens
Outlook
EURUSD is consolidating below a key resistance zone after a recent bullish move, indicating a potential buildup before the next directional move. While the short-term structure leans slightly bullish, price must break above 1.1720 to confirm continuation.
Until then, consolidation or a corrective pullback remains likely if resistance continues to hold.
