The EUR/USD pair remains under medium-term bearish pressure on the H1 chart, although the market is trying to stabilize after the previous wave of aggressive selling. The latest rebound from the recent lows looks corrective rather than impulsive, which means buyers have managed to slow the decline, but have not yet changed the broader daily structure. For the full trading day, the key question is whether the pair can extend recovery above the nearest intraday supply zone or whether renewed selling pressure will return from higher levels. As long as the market stays below the broader recovery zone, the main structure still favors caution on the upside.
Current price: 1.16430
Pivot: 1.1652
Nearest support levels: S1: 1.1628, S2: 1.1609, S3: 1.1588
Nearest resistance levels: R1: 1.1669, R2: 1.1692, R3: 1.1718
Note: If the pair remains below the pivot at 1.1652, the rebound may lose momentum and pressure could return toward 1.1628. A break below that level would expose 1.1609 and then 1.1588 during the day. If EUR/USD consolidates above 1.1652, buyers may attempt a broader correction toward 1.1669 and 1.1692. Only a stable move above 1.1692 would signal that the recovery is becoming more meaningful, with 1.1718 acting as the upper boundary of the day’s corrective scenario.
