The EUR/USD pair enters the new trading day under sustained bearish pressure after a broad and orderly decline that accelerated into fresh local lows. On the H1 chart, the market is not simply reacting to a short intraday impulse — it is trading within a wider downside structure where rebounds have become weaker and sellers continue to defend recovery attempts. The latest move shows that the pair remains pinned near the lower boundary of the current range, which keeps the broader tone negative for the day. Even if corrective bounces appear during the European session, they are likely to be treated as temporary recovery attempts unless price can reclaim higher intraday resistance zones and hold there.
Current price: 1.16365
Pivot: 1.1654
Nearest support levels: S1: 1.1625, S2: 1.1610, S3: 1.1595
Nearest resistance levels: R1: 1.1654, R2: 1.1672, R3: 1.1690
Note: As long as the pair remains below the pivot at 1.1654, the bearish intraday structure stays intact, and pressure may continue toward 1.1625. A break below that level would expose 1.1610 and potentially 1.1595 later in the day if dollar demand remains strong. If buyers manage to lift the pair back above 1.1654, a corrective rebound toward 1.1672 may develop, with 1.1690 acting as the next key cap. Still, unless EUR/USD regains the area above 1.1672 on a stable basis, upside moves should be treated as corrections within a still-bearish daily framework.
