EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0737; (P) 1.0810; (R1) 1.0847; More

Intraday bias in EUR/USD remains neutral and more consolidations could be seen. Firm break of 1.0764 support will resume whole decline from 1.1274 to 1.0609/34 cluster support next. Meanwhile, further decline will be in favor as long as 1.0944 resistance holds, in case of recovery.

In the bigger picture, fall from 1.1274 medium term top is seen as a correction to up trend from 0.9534 (2022 low). Deeper decline would be seen to 1.0634 cluster support (38.2% retracement of 0.9534 to 1.1274 at 1.0609). Strong support could be seen there, at least on first attempt, to bring rebound. Yet, medium term outlook will be neutral for now, as long as 1.1274 resistance holds.

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