The pair traded within a broad intraday decline and starts Tuesday near the lower edge of the current recovery attempt. After peaking around the 1.1780 area at the start of May, EUR/USD shifted into a persistent corrective move and has now returned to the 1.1680 zone. This area is important because it sits near the lower boundary of the latest intraday structure and may decide whether the market forms a base for a rebound or extends the bearish leg deeper through the day.
For the whole trading session, the market remains fragile while it trades below the main balance zone. The recent drop was not a one-candle spike but a multi-leg decline, which usually means sellers still have structural control until price reclaims higher resistance. A rebound is possible, but for a full-day bullish reversal the pair must recover and hold above the pivot area. Otherwise, upside attempts are likely to be treated as corrective bounces inside a broader bearish day structure.
Current price: 1.16832
Pivot: 1.16920
Nearest support levels: S1: 1.16740, S2: 1.16580, S3: 1.16380
Nearest resistance levels: R1: 1.17080, R2: 1.17280, R3: 1.17520
Note:
Above Pivot: If the pair returns above 1.16920 and stabilizes there, buyers may attempt a broader rebound toward 1.17080 and 1.17280. If momentum strengthens through the session, the next upside target may come at 1.17520.
Below Pivot: If the pair remains below 1.16920, sellers may keep pressure on the market toward 1.16740 and 1.16580. A deeper daily decline would then expose 1.16380.
