Daily Pivots: (S1) 1.1776; (P) 1.1808; (R1) 1.1857; More…..
Intraday bas in EUR/USD stays on the upside at this point. rebound form 1.1612 is still in progress for retesting 1.2011 high. Strong break there would resume larger rally from 1.0635. On the downside, break of 1.1759 minor support will turn intraday bias neutral again first.
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.
