EURUSD | Technical Outlook
Market Structure
EURUSD is currently trading around 1.1685, stabilizing after a sharp bearish move that followed a failed bullish continuation. Price recently dropped aggressively from the 1.1730 – 1.1750 region before finding support near 1.1660, triggering a modest rebound toward current levels.
The recovery from the 1.1660 zone toward 1.1680+ reflects a corrective bullish phase within a broader mixed structure, as price consolidates below a key resistance area.
Key Resistance Zone
Immediate resistance is located at 1.1700 – 1.1735, supported by:
- Recent H1 supply zone
- Prior rejection structure
- Confluence with short-term moving averages
A breakout above this zone could lead to:
- 1.1750
- 1.1780 (next resistance zone)
As long as price remains below 1.1735, upside momentum may remain limited.
Key Support Zone
Immediate support is seen at 1.1660 – 1.1640, where price recently found demand.
A breakdown below this level would expose:
- 1.1620
- 1.1600 (key psychological and demand level)
A sustained move below 1.1600 would shift the structure back to bearish.
Expectations
Bullish Scenario (Alternative)
If price holds above 1.1660, buyers may attempt another push higher.
A breakout above 1.1735 could trigger:
- A move toward 1.1750
- Extension toward 1.1780
Short-term momentum shows signs of recovery.
Bearish Scenario (Primary)
Failure to break above resistance is likely to result in renewed selling pressure.
This could lead to:
- A move back toward 1.1660
- A deeper decline toward 1.1620
A break below 1.1640 would confirm bearish continuation.
Outlook
EURUSD remains in a corrective recovery phase following a sharp pullback, but price is still capped below a critical resistance zone. While short-term stabilization is evident above 1.1660, the broader structure remains cautious unless 1.1735 is reclaimed.
Failure to break higher may result in renewed downside pressure, keeping the pair within a range-to-bearish structure in the near term.
