EURUSD – Daily Technical Outlook
Market Structure
EURUSD remains under clear bearish pressure across higher timeframes after failing to sustain its recent recovery attempt near the 1.1900 area. The pair printed a lower high on the daily chart and has resumed its downward trajectory, confirming the continuation of the broader corrective phase.
The latest decline has pushed price back toward the 1.1770–1.1780 region, where it is currently attempting to stabilize. Moving averages on H4 and daily are sloping downward, reinforcing the negative momentum and signaling that sellers remain in control.
Key Resistance Zone
The nearest resistance stands at 1.1820 – 1.1850, which aligns with recent breakdown structure and dynamic resistance from the moving averages.
Additional resistance levels:
- 1.1900 (major psychological & previous rejection zone)
- 1.1970 – 1.2000 (key daily supply area)
As long as EURUSD trades below 1.1850, upside attempts are likely to face renewed selling pressure.
Key Support Zone
Immediate support lies around 1.1760 – 1.1770, where price is currently hovering.
A confirmed break below 1.1760 would expose deeper downside targets:
- 1.1700 (psychological support)
- 1.1620 – 1.1650 (major daily structural support)
A sustained move below 1.1700 would significantly strengthen the bearish outlook.
Expectations
Bearish Scenario (Primary)
The prevailing structure favors continued downside as long as price remains below 1.1850.
A break under 1.1760 could accelerate losses toward 1.1700, with potential extension toward the 1.1620 zone.
Bullish Scenario (Alternative)
A recovery above 1.1850 would be the first signal of short-term stabilization, opening the path toward:
- 1.1900
- 1.1970 – 1.2000
However, unless 1.1900 is reclaimed decisively, rebounds may remain corrective in nature.
Outlook
EURUSD remains under sustained bearish pressure, with the broader structure favoring sellers after failing to hold above key resistance levels. The pair must reclaim 1.1850 to ease downside risks, while a break below 1.1760 could trigger a fresh leg lower toward deeper support zones.
