Daily Pivots: (S1) 1.1056; (P) 1.1069; (R1) 1.1084; More…
EUR/USD’s rise from 1.0989 resumed after brief consolidation. Intraday bias is back on the upside for 1.1175 resistance. Break will resume whole rebound from 1.0879 low. On the downside, though, break of 1.1053 minor support will turn bias back to the downside for 1.0989 support. Break will resume the decline from 1.1175 for retesting 1.0879 low.
In the bigger picture, at this point, rebound from 1.0879 is seen as a corrective move first. in case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, 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.
