Daily Pivots: (S1) 1.0877; (P) 1.0900; (R1) 1.0916; More….
EUR/USD’s rally resumed after brief consolidations and intraday bias is back on the upside. Break of 1.0915 resistance should now extend the rise from 1.0601 to 100% projection of 1.0601 to 1.0915 from 1.0665 at 1.0979. On the downside, below 1.0871 minor support will turn intraday bias neutral gain first.
In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern, possibly a triangle, that’s still be in progress. Break of 1.1138 resistance will be the first signal that rise from 0.9534 (2022 low) is ready to resume through 1.1274 (2023 high). This will now remain the favored case as long as 1.0601 support holds.
