Daily Pivots: (S1) 1.1300; (P) 1.1338; (R1) 1.1379; More….
Intraday bias in EUR/USD remains mildly on the upside. Rebound from 1.1168 would target 1.1422 resistance first. Break will resume whole rebound from 1.0635 to 1.1496 key resistance. On the downside, however, break of 1.1255 minor support will turn bias back to the downside for 1.1168 support, and possibly further to 38.2% retracement of 1.0635 to 1.1422 at 1.1121.
In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.
