The EUR/USD pair remains under pressure after yesterday’s decline and is starting the new session close to the lower boundary of its recent intraday range. The broader H1 structure shows that bullish momentum faded after the failure near the upper highs, and the market has now shifted into a corrective bearish phase. At the same time, the pair is already trading near an important support cluster, so the first half of the day may be driven by whether buyers can build a base here or whether sellers will press the pair into a deeper extension lower.
Current price: 1.17263
Pivot: 1.1730
Nearest support levels: S1: 1.1718, S2: 1.1704, S3: 1.1688
Nearest resistance levels: R1: 1.1744, R2: 1.1758, R3: 1.1773
Note: If the pair stays below the pivot at 1.1730, the bearish tone may continue through the day, opening the way toward 1.1718 and 1.1704. A stronger downside extension would then expose 1.1688. If the price regains 1.1730 and consolidates above it, a corrective rebound may develop toward 1.1744 and 1.1758, while 1.1773 would be the next target if intraday bullish momentum strengthens.
