Daily Pivots: (S1) 1.1723; (P) 1.1737; (R1) 1.1753; More….
A temporary top should be in place at 1.1768 in EUR/USD and intraday bias is turned neutral first. Some consolidations would be seen but further rally is expected as long as 1.1614 support holds. Above 1.1768 will resume the rebound from 1.1467 and target a retest on 1.1917 high.
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.
