EUR/USD’s fall from 1.1710 continues today and intraday bias stays on the downside. Sustained break of 61.8% retracement of 1.1323 to 1.1710 at 1.1471 will target a retest on 1.1323 low. On the upside, above 1.1521 minor resistance will turn intraday bias neutral again first.
In the bigger picture, with 38.2% retracement of 1.0176 to 1.2081 at 1.1353 intact, price actions from 1.2081 are viewed as a corrective pattern in the larger up trend from 1.0176 (2025 low). Break of 1.2081 is expected at a later stage after the correction completes. However, sustained break of 1.1353 will raise the chance of medium term trend reversal.
