Daily Pivots: (S1) 1.0821; (P) 1.0849; (R1) 1.0866; More…
Intraday bias in EUR/USD is turned neutral with current retreat. Rise from 1.0723 is seen as the third leg of the corrective pattern from 1.0694. Above 1.0875 will target 1.0941/0980 resistance zone. On the downside, though, sustained trading below 55 4H EMA (now at 1.0814) will bring retest of 1.0694/0723 support zone instead.
In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.
 will bring retest of 1.0694/0723 support zone instead.){kind=link}