Daily Pivots: (S1) 1.0639; (P) 1.0669; (R1) 1.0724; More…
Intraday bias in EUR/USD remains neutral at this point, and risk stays on the downside as long as 1.0803 resistance holds. Below 1.0610 will resume the corrective fall from 1.1032 and 38.2% retracement of 0.9534 to 1.1032 at 1.0463. Strong support should be seen around there to bring rebound, at least on first attempt.
In the bigger picture, the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rise is in favor to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.
