Thu, Mar 23, 2023 @ 01:15 GMT

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0180; (P) 1.0219; (R1) 1.0259; More

Intraday bias in EUR/USD remains neutral first. on the downside, break of 1.0118 will suggest that rebound from 0.9951 has completed. Bias will be back on the downside for retesting 0.9951 low. On the upside, above 1.0277 will resume the rebound to 1.0348 support turned resistance.

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 strong rebound.

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