EURUSD remains under bearish pressure below 1.1700 level

The EURUSD currency pair continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests a corrective pullback, potentially setting up for another move lower if resistance holds.

Key Level: 1.1700
This zone, previously a consolidation area, now acts as a significant resistance level.

Bearish Scenario (rejection at 1.1700):

A failed test and rejection at 1.1700 would likely resume the bearish momentum.

Downside targets include:

1.1550 – Initial support

1.1510 – Intermediate support

1.1450 – Longer-term support level

Bullish Scenario (breakout above 1.1700):

A confirmed breakout and daily close above 1.1700 would invalidate the bearish setup.

In that case, potential upside resistance levels are:

1.1736 – First resistance

1.1775 – Further upside target

Conclusion
EURUSD remains under bearish pressure, with the 1.1700 level acting as a key inflection point. As long as price remains below this level, the bias favours further downside. Traders should watch for price confirmation around that level to assess the next move.