Daily Pivots: (S1) 1.1701; (P) 1.1733; (R1) 1.1753; More….
Intraday bias in EUR/USD stays on the downside at this point. Rebound from 1.1467 could have completed as a corrective rebound. Fall from 1.1807 is seen as the third leg of the whole pattern from 1.1917 high. Sustained trading below 55 D EMA (now at 1.1670) will affirm this case and target 1.1467 support and below. On the upside, above 1.1719 minor resistance will turn intraday bias neutral again first.
In the bigger picture, as long as 55 W EMA (now at 1.1408) 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.
 will affirm this case and target 1.1467 support and below. On the upside, above 1.1719 minor resistance will turn intraday bias neutral again first.){kind=link}