Daily Pivots: (S1) 1.0691; (P) 1.0721; (R1) 1.0762; More…
Intraday bias in EUR/USD stays on the upside and outlook is unchanged. Corrective decline from 1.1032 should have completed at 1.5023, ahead of 1.0482 key support. Break of 1.0803 resistance will bring retest of 1.1032 high next. On the downside, below 1.0649 minor support will turn bias back to the downside. In this case, decline from 1.1032 could resume through 1.0523 to keys structural support at 1.0482.
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.
