23 Oct EURUSD outlook: Bearish pressure seenEuro / U.S. DollarFOREXCOM:EURUSDChartingGenieEURUSD remains under pressure after retreating from recent highs, with resistance at 1.12413 keeping the recovery in check. The broader bearish price structure suggests further downside may follow if selling pressure persists, while a break above 1.12696 would invalidate the bearish bias. Key Levels to Watch Resistance: 1.12413 Resistance: 1.12537 If bearish order flow persists, this level may limit the recovery and bring renewed selling pressure. A rejection could see EURUSD revisit recent lows around 1.11886, while a sustained break above 1.12696 would invalidate the bearish outlook. Fundamental Drivers: A stronger US dollar, supported by hawkish Fed expectations and persistent inflation concerns, may weigh on EURUSD. Meanwhile, concerns over Eurozone growth and the economic impact of elevated energy prices may add pressure to the euro. By Li Xing Gan, Financial Markets Strategist Consultant to Exness