Daily Pivots: (S1) 1.0521; (P) 1.0548; (R1) 1.0570; More…
Intraday bias in EUR/USD is turned neutral with current recovery. Another decline is still in favor as long as 1.0693 resistance fall. Below 1.0523 will target 38.2% retracement of 0.9534 to 1.1032 at 1.0463. Strong support could be seen there to bring reversal. However, sustained break of 1.0463 will carry larger bearish implications.
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.
