Thu, Mar 23, 2023 @ 11:43 GMT

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0164; (P) 1.0209; (R1) 1.0272; More

Range trading continues in EUR/USD and intraday bias stays neutral at this point. On the upside, above 1.0277 minor resistance will target 1.0348 resistance first. Break there will target channel resistance at 1.0469. On the downside, break of 1.0095 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 strong rebound.

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