Daily Pivots: (S1) 1.1723; (P) 1.1737; (R1) 1.1753; More….
EUR/USD’s rise from 1.1467 continues today despite some loss of momentum as seen in 4H MACD. Intraday bias stays on the upside for retesting 1.1917 high. On the downside, though, below 1.1718 minor support will turn bias neutral and bring some consolidations first.
In the bigger picture, as long as 55 W EMA (now at 1.1373) holds, up trend from 0.9534 (2022 low) is still in favor to continue. Decisive break of 1.2 key psychological level will carry larger bullish implication. However, sustained trading below 55 W EMA will argue that rise from 0.9534 has completed as a three wave corrective bounce, and keep long term outlook bearish.
