Daily Pivots: (S1) 1.1128; (P) 1.1155; (R1) 1.1206; More….
EUR/USD’s rise from 1.0665 resumed by breaking 1.1200. Intraday bias is now on the upside to retest 1.1274 high. Firm break there will resume larger up trend. Next near term target will be 100% projection of 1.0776 to 1.1200 from 1.1001 at 1.1425. On the downside, below 1.1020 minor support will turn intraday bias neutral first.
In the bigger picture, corrective pattern from 1.1274 should have completed at 1.0665 already. Decisive break of 1.1274 (2023 high) will confirm resumption of whole up trend from 0.9534 (2022 low). Next target will be 61.8% projection of 0.9534 to 1.1274 from 1.0665 at 1.1740. This will now be the favored case as long as 1.1001 support holds.
