Daily Pivots: (S1) 1.0753; (P) 1.0772; (R1) 1.0789; More…
Intraday bias in EUR/USD is turned neutral with current retreat and some consolidations would be seen. But further rally will be mildly in favor as long as 1.0648 support holds. Above 1.0810 will resume the rebound from 1.0601 to 1.0884 resistance next.
In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern. Fall from 1.1138 is seen as the third leg and could have completed. Firm break of 1.1138 will argue that larger up trend from 0.9534 (2022 low) is ready to resume through 1.1274 high. On the downside, break of 1.0601 will extend the corrective pattern instead.
