The EUR/USD pair remains under medium-term bearish pressure, but the H1 chart shows that the market has started to slow its decline after reaching fresh local lows earlier. The latest candles suggest a corrective pause: sellers are still present, yet downside momentum is no longer as aggressive as before. For the full trading day, the pair may stay in a recovery phase inside a broader bearish structure. That means intraday rebounds are possible, but they will need a firm break above nearby resistance to turn into a stronger recovery. Otherwise, rallies may still attract renewed selling pressure.
Current price: 1.16178
Pivot: 1.1624
Nearest support levels: S1: 1.1603, S2: 1.1586, S3: 1.1568
Nearest resistance levels: R1: 1.1637, R2: 1.1655, R3: 1.1676
Note: If the pair remains below the pivot at 1.1624, the market may stay vulnerable to another move toward 1.1603. A break below that area would expose 1.1586 and then 1.1568 during the day. If EUR/USD consolidates above 1.1624, the corrective rebound may extend toward 1.1637 and 1.1655. Only a stable move above 1.1655 would noticeably weaken the current bearish intraday tone and open the way to 1.1676.
