Daily Pivots: (S1) 1.0575; (P) 1.0638; (R1) 1.0702; More…
Intraday bias in EUR/USD stays on the upside at this point. Corrective decline from 1.1032 should have completed too, ahead of 1.0482 key support. Further rally would be seen to 1.0803 resistance first. Firm break there will target a retest on 1.1032 high. For now, risk will stay on the upside as long as 1.0523 support holds, in case of retreat.
In the bigger picture, as long as 1.0482 support holds, rise from 0.9534 (2022 low) should continue to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. However, sustained break of 1.0482 will bring deeper fall to 61.8% retracement of 0.9534 to 1.1032 at 1.0106, even as a corrective pull back.
