Daily Pivots: (S1) 1.1502; (P) 1.1596; (R1) 1.1657; More…
Intraday bias in EUR/USD stays mildly on the downside for 1.1523 support first. Break there will resume the fall from 1.2265, and that from 1.2348 too, for long term fibonacci level at 1.1289 next. For now, further decline is expected as long as 1.1691 resistance holds, in case of recovery.
In the bigger picture, price actions from 1.2348 should at least be a correction to rise from 1.0635 (2020 low). As long as 1.1908 resistance holds, deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Nevertheless break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.
