The pair traded within a range with a bearish intraday bias after extending the broader decline toward the lower edge of the current H1 structure. EUR/USD remains under pressure after a sequence of lower highs and lower lows formed over the last several sessions. The rebound attempts have been shallow and short-lived, which suggests that sellers still control the broader daily tone while the market stays below the mid-range recovery zone.
For the full trading day, the main focus is on whether the pair can build a wider recovery above the 1.1668 area or remain trapped in a weak corrective structure below resistance. As long as the market stays under the upper intraday supply band, rallies are more likely to be treated as selling opportunities. Only a stronger recovery through the first two resistance layers would begin to neutralize the bearish pressure for the day.
Current price: 1.16620
Pivot: 1.16680
Nearest support levels: S1: 1.16500, S2: 1.16320, S3: 1.16100
Nearest resistance levels: R1: 1.16740, R2: 1.16920, R3: 1.17180
Note:
Above Pivot: If the pair returns above 1.16680 and holds there, buyers may attempt a wider correction toward 1.16740 and 1.16920. If the recovery strengthens through the day, the next upside objective may come at 1.17180.
Below Pivot: If the pair remains below 1.16680, sellers may keep control and press the market toward 1.16500 and 1.16320. A broader daily decline would then expose 1.16100.
