Daily Pivots: (S1) 1.0660; (P) 1.0696; (R1) 1.0759; More…
EUR/USD’s break of 1.0759 resistance suggests that correction from 1.1032 has completed at 1.0515 already. That came after defending both 1.0482 support and 38.2% retracement of 0.9534 to 1.1032 at 1.0258. Intraday bias is back on the upside for retesting 1.1032 high next. On the downside, below 1.0703 minor support will turn intraday bias neutral again first.
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, with risk of breaking through 0.9534 eventually.
