Daily Pivots: (S1) 0.8063; (P) 0.8082; (R1) 0.8104; More…
Intraday bias remains mildly on the upside or 0.8123. Outlook is unchanged that corrective pattern from 0.7828 low is still extending. Break of 0.8123 will target 138.2% projection of 0.7828 to 0.8075 from 0.7877 at 0.8218. On the downside, below 0.8034 minor support will turn intraday bias neutral first.
In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8332 support turned resistance holds (2023 low).
