EURUSD | Technical Outlook
Market Structure
EURUSD analysis today shows the pair trading around 1.1685, attempting a short-term rebound after failing to sustain its prior bearish move. Price recently bounced from the 1.1650 – 1.1660 region, pushing higher toward 1.1690 before stabilizing near current levels.
The broader structure remains corrective within a bearish context, as H1 and H4 continue to reflect lower highs and downward pressure. Despite the recent bounce, momentum remains fragile, with sellers still active on rallies.
Key Resistance Zone
Immediate resistance is located at 1.1690 – 1.1710, supported by:
- Recent rejection highs
- Lower high formation on H1
- Moving average resistance cluster
A move toward this zone may face selling pressure, while a breakout above it could open the door for:
- 1.1730
- 1.1760 (higher timeframe resistance)
As long as price remains below 1.1710, upside attempts are likely to remain limited.
Key Support Zone
Immediate support is seen at 1.1660 – 1.1650, which aligns with:
- Recent swing lows
- Intraday demand zone
- Psychological support level
A breakdown below this level would expose:
- 1.1625
- 1.1600 (key higher timeframe support)
A sustained move below 1.1600 would reinforce the broader bearish trend.
Expectations
Bearish Scenario (Primary)
If price remains below 1.1690, sellers are likely to maintain control.
A break below 1.1650 could trigger:
- A move toward 1.1625
- Extension toward 1.1600
The overall structure continues to favor downside pressure.
Bullish Scenario (Alternative)
A breakout above resistance may signal a short-term recovery.
This could result in:
- A move toward 1.1710
- A push toward 1.1730
However, bullish momentum remains corrective unless price establishes above key resistance.
Outlook
EURUSD remains under bearish pressure despite the current rebound, with price stabilizing near the 1.1685 zone. The structure suggests that rallies may continue to face selling interest unless resistance is clearly broken.
A confirmed break below 1.1650 would open the path for further downside, while a sustained move above 1.1710 could trigger a broader corrective recovery.
