Daily Pivots: (S1) 1.1723; (P) 1.1737; (R1) 1.1753; More….
Intraday bias in EUR/USD remains mildly on the upside for the moment. Further rise should be seen to retest 1.1917 high. Decisive break there will resume larger up trend. For now, risk will stay on the upside as long as 1.1614 support holds, in case of retreat.
In the bigger picture, as long as 55 W EMA (now at 1.1373) holds, up trend from 0.9534 (2022 low) is still in favor to continue. Decisive break of 1.2 key psychological level will carry larger bullish implication. However, sustained trading below 55 W EMA will argue that rise from 0.9534 has completed as a three wave corrective bounce, and keep long term outlook bearish.
