Daily Pivots: (S1) 1.1025; (P) 1.1057; (R1) 1.1111; More…
Intraday bias in EUR/USD remains neutral first. With 1.1097 resistance intact, fall from 1.1179 is still in favor to continue. Break of 1.0981 will target a test on 1.0879 low. However, break of 1.1097 will dampen our bearish view and bring stronger rise back to 1.1179.
In the bigger picture, rebound from 1.0879 is seen as a corrective move first. In case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.
