EUR/USD’s fall from 1.1710 continues today and intraday bias remains on the downside. Deeper decline should be seen to 1.1323 low. For now, risk will stay on the downside as long as 1.1497 resistance holds, in case of recovery.
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.
