Daily Pivots: (S1) 1.0031; (P) 1.0064; (R1) 1.0122; More…
Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.0121 will turn bias back to the upside for stronger rebound to 1.0348 support turned resistance. Nevertheless, sustained break 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937 will extend larger down trend to 161.8% projection at 0.9420.
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.
