Daily Pivots: (S1) 1.1189; (P) 1.1232; (R1) 1.1306; More…
EUR/USD is staying in consolidation from 1.1239 temporary top and intraday bias remains neutral. Downside should be contained well above 1.1066 support to bring rise resumption. On the upside, above 1.1239 will extend whole rally from 1.0879 to 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281 next.
In the bigger picture, rebound from 1.0879 is seen as a corrective move at this point. 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.
