The pair traded within a range during the previous sessions, but the broader H1 structure continues to show a bearish sequence of lower highs after the rejection from the 1.1670 area. EUR/USD is trying to stabilize after the recent decline, yet the market remains vulnerable while trading below the Pivot zone and below the former intraday support area.
Current price: 1.16115
Pivot: 1.1622
Nearest support levels:
S1: 1.1600
S2: 1.1585
S3: 1.1568
Nearest resistance levels:
R1: 1.1630
R2: 1.1650
R3: 1.1670
Note:
Above Pivot: if the pair recovers above 1.1622, the immediate bearish pressure may ease and EUR/USD could retest 1.1630. A stronger move above this barrier may open the way toward 1.1650 and 1.1670 later in the day.
Below Pivot: while the pair remains below 1.1622, sellers may keep control of the broader intraday structure. A break below 1.1600 may strengthen downside pressure and expose 1.1585 and 1.1568.
