EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0715; (P) 1.0745; (R1) 1.0771; More….

Outlook in EUR/USD is unchanged and intraday bias stays neutral. On the upside, firm break of 55 D EMA will argue that pull back from 1.0915 has completed. Further rise should be seen back to 1.0915 resistance. However, break of 1.0665 will resume larger down trend through 1.0601 low instead.

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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