Daily Pivots: (S1) 1.1133; (P) 1.1152; (R1) 1.1189; More…
Intraday bias in EUR/USD remains on the upside at this point. Rise from 1.0879 should target 1.1412 key resistance next. On the downside, below 1.1114 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. Hence, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.
