Daily Pivots: (S1) 1.1089; (P) 1.1159; (R1) 1.1200; More…
Intraday bias in EUR/USD remains on the downside at this points. Correction from 1.1274 short term top could extend towards 1.1011 resistance turned support. For now, risk is mildly on the downside as long as 1.1274 resistance holds, in case of recovery.
In the bigger picture, as rise from 0.9534 extends, focus is now on 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next. Meanwhile, outlook will continue to stay bullish as long as 1.0832 support holds, even in case of deep pull back.
