Intraday bias in EUR/USD is turned neutral first with current recovery. Further decline is expected as long as 1.1621 resistance holds. Firm break of 1.1408 support will resume whole fall from 1.2081 and target 100% projection of 1.2081 to 1.1408 from 1.1848 at 1.1175.
In the bigger picture, focus is back on 38.2% retracement of 1.0176 to 1.2081 at 1.1353. Decisive break there will revive the case of medium term bearish trend reversal after rejection by 1.2 key cluster resistance level. Further fall should be seen to 61.8% retracement at 1.0904. Nevertheless, strong rebound from 1.1353, followed by break of 1.1621 resistance, will retain medium term bullishness.
