The pair traded within a range with a bearish bias after the previous recovery wave failed to hold in the upper part of the recent H1 correction. EUR/USD remains under pressure inside a broader short-term downward structure: after bouncing from the 1.1670 area, the pair was unable to sustain momentum above the rebound highs and has started to roll over again.
For the full trading day, the key question is whether buyers can defend the current support zone and build another corrective rebound, or whether the market will resume the wider decline. As long as the pair stays below the main recovery ceiling, upside attempts should still be treated as corrective rather than trend-changing.
Current price: 1.17026
Pivot: 1.17120
Nearest support levels: S1: 1.16920, S2: 1.16740, S3: 1.16520
Nearest resistance levels: R1: 1.17280, R2: 1.17480, R3: 1.17720
Note:
Above Pivot: If the pair regains 1.17120 and holds above it, buyers may push the price toward 1.17280 and 1.17480. A broader corrective extension through the day may then open the way to 1.17720.
Below Pivot: If the pair remains below 1.17120, bearish pressure may intensify toward 1.16920 and 1.16740. A deeper daily move lower may then expose 1.16520.
