Daily Pivots: (S1) 1.0108; (P) 1.0150 (R1) 1.0227; More…
EUR/USD’s fall resumes after brief consolidations. Intraday bias is back on the downside. Current down trend should target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937, which is close to parity. On the upside, break of 1.0189 minor resistance will turn intraday bias neutral again. But outlook stays bearish as long as 1.0358 support turned resistance holds.
In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Sustained break of 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090 will pave the way to 100% projection at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.
