Daily Pivots: (S1) 1.0932; (P) 1.0961; (R1) 1.1017; More…
EUR/USD’s rally from 1.0634 resumed after brief consolidations. Intraday bias is back on the upside for retesting 1.1094 high first. Decisive break there will confirm resumption of whole up trend from 0.9534. However, firm break of 1.0891 will extend the corrective pattern from 1.1094 with another falling leg, targeting 1.0634 and below.
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).
