EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0692; (P) 1.0708; (R1) 1.0731; More….

Immediate focus in now on 1.0760 resistance as EUR/USD extends the rebound from 1.0665. Decisive break there will argue that pull back from 1.0915 has completed. Intraday bias will be back on the upside for 55 D EMA (now at 1.0773) and above. Meanwhile, rejection by 1.0760 will maintain near term bearishness for another fall through 1.0665 later.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern that’s still in progress. Break of 1.0601 will target 1.0447 support and possibly below. For now, this will remain the favored case as long as 1.0915 resistance holds, in case of rebound.

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