EUR/USD’s fall from 1.1710 is in progress and intraday bias stays on the downside. Sustained break of 55 D EMA (now at 1.1549) will argue that rebound from 1.1323 has completed as a three wave corrective move, and bring deeper fall to retest this low. On the upside, above 1.1632 minor resistance will turn intraday bias neutral first.
In the bigger picture, with 38.2% retracement of 1.0176 to 1.2081 at 1.1353 intact, price actions from 1.2081 are viewed as a corrective pattern in the larger up trend from 1.0176 (2025 low). Break of 1.2081 is expected at a later stage after the correction completes. However, sustained break of 1.1353 will raise the chance of medium term trend reversal.
 will argue that rebound from 1.1323 has completed as a three wave corrective move, and bring deeper fall to retest this low. On the upside, above 1.1632 minor resistance will turn intraday bias neutral first.){kind=link}