Tue, Mar 21, 2023 @ 07:32 GMT

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0142; (P) 1.0205; (R1) 1.0291; More

Intraday bias in EUR/USD remains mildly on the upside. Rebound from 0.9951 short term bottom is in progress for 1.0348 support turned resistance. Break there will target channel resistance at 1.0514. On the downside, below 1.0118 minor support will bring retest of 0.9951 low instead.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.

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