EURUSD | Technical Outlook
EURUSD Trading Today: Market Structure
The EURUSD Trading Today shows the pair trading around 1.1666, undergoing a short-term pullback after the strong bullish advance that pushed price toward the 1.1700 – 1.1715 region.
The broader picture remains constructive. On the Daily chart, EURUSD has recovered strongly from the July lows and recently surged through the 1.1600 area. The H4 timeframe continues to show a sequence of higher highs and higher lows, although momentum has cooled after price encountered resistance around 1.1700 – 1.1715.
On H1, price has slipped beneath its short-term moving averages and is now testing the 1.1655 – 1.1665 area. M15 confirms the near-term weakness, with lower highs developing after the rejection from above 1.1700. This creates a contrast between the broader bullish trend and the current intraday correction.
Key Resistance Zone
Immediate resistance is located at 1.1680 – 1.1715, supported by:
- Recent H1 and H4 swing highs
- Repeated rejection around the 1.1700 psychological level
- Short-term supply following the latest bullish impulse
A confirmed breakout above 1.1715 could expose:
- 1.1740
- 1.1780
Holding above 1.1715 would reinforce the broader bullish trend and indicate that buyers have regained momentum.
Key Support Zone
Immediate support is concentrated around 1.1650 – 1.1660, where EURUSD is currently attempting to stabilize.
A breakdown below this area could expose:
- 1.1620
- 1.1580 – 1.1600
The 1.1580 – 1.1600 region is particularly important because it aligns with the previous breakout area and the broader H4 bullish trend.
A sustained move below 1.1580 would weaken the current bullish setup and increase the probability of a deeper correction.
EURUSD Trading Today: Expectations
Bullish Scenario (Primary)
If EURUSD successfully defends 1.1650 – 1.1660, the current decline may remain a corrective pullback within the broader bullish trend.
A recovery above 1.1680 could lead to:
- A retest of 1.1700 – 1.1715
- Extension toward 1.1740
- Further upside toward 1.1780 if momentum strengthens
The H4 trend remains supportive of this scenario as long as the major breakout structure remains intact.
Bearish Scenario (Alternative)
Failure to hold above 1.1650 would signal that the short-term correction is extending.
This could result in:
- A decline toward 1.1620
- A deeper retest of 1.1580 – 1.1600
A sustained break below 1.1580 would materially weaken the bullish outlook and could shift attention toward lower support levels.
Outlook
EURUSD remains broadly bullish on the higher timeframes, but short-term momentum has weakened following rejection from the 1.1700 – 1.1715 resistance region. The pair is now testing an important intraday support area near 1.1650 – 1.1660.
For EURUSD Trading Today, this support zone represents the immediate decision point. Holding above it could allow buyers to challenge 1.1700 – 1.1715 again, while a confirmed breakdown would favor a deeper correction toward 1.1620 and potentially 1.1580 – 1.1600.
