Daily Pivots: (S1) 1.0550; (P) 1.0571; (R1) 1.0603; More…
Intraday bias in EUR/USD remains neutral first. Firm break of 1.0693 resistance will argue that pull back from 1.1032 has completed. Intraday bias will be turned back to the upside for 1.0803 resistance and above. In case of another decline, strong support could be seen from 38.2% retracement of 0.9534 to 1.1032 at 1.0463 to bring reversal.
In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.
