Daily Pivots: (S1) 1.0667; (P) 1.0738; (R1) 1.0788; More…
Intraday bias in EUR/USD remains neutral and more consolidations could be seen above 1.0681 temporary low. Outlook will stay bearish as long as 1.0936 resistance holds. Below 1.0681 will resume the fall from 1.1213 and target 61.8% projection of 1.1213 to 1.0760 from 1.0936 at 1.0656, and then 100% projection at 1.0483.
In the bigger picture, price actions from 1.1274 (2023 high) are seen as a consolidation pattern to up trend from 0.9534 (2022 low), with fall from 1.1213 as the third leg. Downside should be contained by 50% retracement of 0.9534 (2022 low) to 1.1274 at 1.0404, to bring up trend resumption at a later stage.
