Daily Pivots: (S1) 1.0849; (P) 1.0901; (R1) 1.0998; More…
Intraday bias in EUR/USD remains on the upside at this point. Rise from 1.0634 is in progress to retest 1.1094 high. Decisive break there will confirm resumption of whole up trend from 0.9534. On the downside, below 1.0863 minor support will turn intraday bias neutral first.
In the bigger picture, as long as 1.0515 support holds, rise from 0.9534 (2022 low) would still extend higher. Sustained break of 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).
