Daily Pivots: (S1) 1.0889; (P) 1.0904; (R1) 1.0921; More…
Intraday bias in EUR/USD is turned neutral with current recovery. But risk stays mildly on the downside for now. Fall from 1.1101 is seen as the third leg of the corrective pattern from 1.1094. Sustained break of 55 D EMA (now at 1.0838) will target 1.0634 support and below. however, break of 1.1011 will target a test on 1.1094 high instead.
In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).
 will target 1.0634 support and below. however, break of 1.1011 will target a test on 1.1094 high instead.){kind=link}