Daily Pivots: (S1) 1.0836; (P) 1.0888; (R1) 1.0917; More…
Intraday bias in EUR/USD remains neutral at this point as sideway trading continues. Further rally is mildly in favor with 1.0843 support intact. On the upside, break of 1.1011 will resume the rise from 1.0634 and target 1.1094 resistance. Decisive break there will resume larger up trend from 0.9534. However, break of 1.0843 will turn bias to the downside for 1.0634 support instead.
In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).
