Daily Pivots: (S1) 1.0000; (P) 1.0037; (R1) 1.0074; More…
EUR/USD’s fall continues today and intraday bias stays on the downside. Firm break of 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937 could prompt downside acceleration to 161.8% projection at 0.9420. On the upside, break of 1.0121 minor resistance will turn intraday bias neutral again. But outlook will stay bearish as long as 1.0348 support turned resistance holds.
In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.
