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The EUR/USD pair continued its bearish trajectory in line with our previous technical outlook, successfully reaching the 1.1600 target and printing a low at 1.1593, confirming sustained selling pressure across the pair.
Technical Outlook – 4-Hour Chart
Price action has now stabilized below the previously broken minor support at 1.1650, which has turned into a firm resistance zone under the principle of role reversal. This shift significantly limits the scope for any meaningful upside rebound.
Simple moving averages remain aligned to the downside, acting as dynamic resistance, while the Relative Strength Index (RSI) is delivering increasingly negative signals. Together, these factors reinforce the probability of trend continuation toward lower levels.
Expected Technical Scenario
As long as trading remains below 1.1650 and within the descending corrective channel, the bearish bias remains dominant, with 1.1585 standing as the next downside target. A break below this level would likely intensify selling pressure, opening the way toward 1.1555.
On the other hand, a sustained hourly close above 1.1660 could trigger a short-term recovery attempt, with scope for a rebound toward 1.1680 and potentially 1.1710.
Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.1585 | R1: 1.1645 |
| S2: 1.1550 | R2: 1.1680 |
| S3: 1.1515 | R3: 1.1710 |
