Daily Pivots: (S1) 1.1760; (P) 1.1797; (R1) 1.1866; More….
EUR/USD’s rally continues today and intraday bias stays on the upside for 1.1917 key resistance. Firm break there will resume larger up trend. On the downside, below 1.1812 minor support will mix up the outlook and turn intraday bias neutral again.
In the bigger picture, as long as 55 W EMA (now at 1.1443) 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.
