Daily Pivots: (S1) 1.1732; (P) 1.1757; (R1) 1.1789; More…..
EUR/USD dips mildly today but stays above 1.1695 minor support, intraday bias remains neutral for the moment. Another rise is still in favor. Break of 1.1807 will resume the rebound from 1.1612 to retest 1.2011 high. On the downside, break of 1.1695 will likely resume the correction from 1.2011 to 38.2% retracement of 1.0635 to 1.2011 at 1.1485.
In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.
