Daily Pivots: (S1) 1.1084; (P) 1.1115; (R1) 1.1159; More…
Intraday bias in EUR/USD remains on the upside for the moment. Further rise should be seen to retest 1.1179 resistance first. Decisive break there will confirm resumption of whole rally from 1.0879. Next target will be 100% projection of 1.0879 to 1.1179 from 1.0981 at 1.1281. On the downside, below 1.1097 minor support will delay the bullish case and turn bias neutral first.
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.
