Daily Pivots: (S1) 1.1713; (P) 1.1764; (R1) 1.1798; More…..
Intraday bias in EUR/USD remains neutral for the moment. As long as 1.1732 minor support holds, another rise is still mildly in favor. Break of 1.1830 will extend the rebound form 1.1612 to retest 1.2011 high. However, break of 1.1732 will suggest that correction from 1.2011 is extending with another leg. Intraday bias will be turned back to the downside for 1.1612 and below.
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.
