The EUR/USD pair remains under sustained bearish pressure on the H1 chart. The broader structure still shows a sequence of lower highs and lower lows, and the latest price action suggests that the market is consolidating near depressed levels rather than forming a full-scale reversal. After the sharp decline seen over recent sessions, the pair is trying to stabilize, but the recovery remains weak and technically fragile. For the full trading day, the main question is whether the market can build a deeper corrective rebound or whether sellers will use intraday pullbacks as an opportunity to re-enter in the direction of the prevailing trend.
Current price: 1.15939
Pivot: 1.1608
Nearest support levels: S1: 1.1582, S2: 1.1564, S3: 1.1542
Nearest resistance levels: R1: 1.1616, R2: 1.1638, R3: 1.1661
Note: If the pair stays below the pivot at 1.1608, the bearish structure is likely to remain dominant, and sellers may press the market toward 1.1582. A break below that level would open the way to 1.1564 and then 1.1542 during the day. If EUR/USD consolidates above 1.1608, a corrective rebound may develop toward 1.1616 and 1.1638. Only a stable move above 1.1638 would weaken the current intraday bearish pressure and allow a broader recovery toward 1.1661.
