Daily Pivots: (S1) 1.0763; (P) 1.0788 (R1) 1.0816; More…
Intraday bias in EUR/USD remains neutral for the moment, and further decline is expected with 1.0922 resistance intact. On the downside, firm break of 61.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0758 will pave the way to 100% projection at 1.0495. However, break of 1.0922 will turn bias back to the upside for stronger rebound towards 1.1184 resistance instead.
In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1494 resistance holds. Firm break of 1.0635 (2020 low) will raise the chance of long term down trend resumption and target a retest on 1.0339 (2017 low) next. Nevertheless, break of 1.1494 will maintain medium term neutral outlook, and extending term range trading first.
