Intraday bias in EUR/USD stays on the upside for the moment. Rebound from 1.1323 should continue to 1.1621 cluster resistance (38.2% retracement of 1.2081 to 1.1323 at 1.1613). . Decisive break there will add to the case that whole correction from 1.2081 has completed with three waves down to 1.1323. In this case, next target is 61.8% retracement at 1.1791. Nevertheless, break of 1.1433 minor support will turn bias back to the downside, for 1.1323/1352 support zone instead.
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.
. . Decisive break there will add to the case that whole correction from 1.2081 has completed with three waves down to 1.1323. In this case, next target is 61.8% retracement at 1.1791. Nevertheless, break of 1.1433 minor support will turn bias back to the downside, for 1.1323/1352 support zone instead.){kind=link}