Daily Pivots: (S1) 1.0721; (P) 1.0735; (R1) 1.0760; More….
EUR/USD’s rebound from 1.0665 resumed by breaking 1.0775 minor resistance today. Current development suggests that pull back from 1.0915 has completed. Intraday bias is back on the upside for 1.0915 resistance next. For now, risk will stay on the upside as long as 1.0709 support holds, in case of retreat.
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. On the upside, firm break of 1.0915 resistance will start another rising leg back to 1.1138 resistance instead.
