Daily Pivots: (S1) 1.1563; (P) 1.1594; (R1) 1.1641; More….
Intraday bias in EUR/USD is back on the downside with breach of 1.1529 temporary low today. Fall from 1.2081 is resuming and should target 38.2% retracement of 1.0176 to 1.2081 at 1.1353 next. Outlook will remain bearish as long as 1.1740 support turned resistance holds, in case of another recovery.
In the bigger picture, a medium term top should be in place at 1.2081 on bearish divergence condition in D MACD. Sustained trading below 55 W EMA (now at 1.1500) should confirm rejection by 1.2 key cluster resistance level. That would also raise the chance that whole up trend from 0.9534 (2022 low) has completed as a three wave corrective bounce too. For now, medium term outlook is neutral at best as long as 1.2081 holds, even in case of rebound.
