The pair traded within a broad recovery structure after the rebound from the early-May base, but the latest candles show that momentum is no longer one-sided. EUR/USD rallied strongly into the 1.1780–1.1790 area, then entered a corrective phase and is now trying to stabilize near 1.1750. For the full day, this means the market is not in a clean breakout mode anymore. Instead, it is balancing between resuming the broader recovery and extending the pullback from the recent swing top.
The key for today is whether buyers can defend the current support zone and rebuild strength above the pivot. If they do, the pair can spend the day recovering toward the upper resistance band and retesting the recent highs. If not, the correction can deepen and drag price back into the middle of the previous range. So the daily bias is neutral-to-bullish, but only while the pair remains supported above the pivot area.
Current price: 1.17491
Pivot: 1.17460
Nearest support levels: S1: 1.17320, S2: 1.17140, S3: 1.16880
Nearest resistance levels: R1: 1.17620, R2: 1.17820, R3: 1.18000
Note:
Above Pivot: If the pair holds above 1.17460, buyers may try to extend the recovery toward 1.17620 and 1.17820. If bullish pressure strengthens through the day, the next upside target may come at 1.18000.
Below Pivot: If the pair drops below 1.17460, a broader correction may develop toward 1.17320 and 1.17140. A deeper daily decline would then expose 1.16880.
