Intraday bias in EUR/USD remains mildly on the downside at this point, fall from 1.1710 short term top should extend to 55 D EMA (now at 1.1545). Decisive break there will argue that rebound from 1.1323 has completed as a three wave corrective move, and bring deeper fall to retest this low. On the upside, above 1.1659 minor resistance will extend the rally from 1.1323 through 1.1710.
In the bigger picture, with 38.2% retracement of 1.0176 to 1.2081 at 1.1353 intact, price actions from 1.2081 are viewed as a corrective pattern in the larger up trend from 1.0176 (2025 low). Break of 1.2081 is expected at a later stage after the correction completes. However, sustained break of 1.1353 will raise the chance of medium term trend reversal.
. Decisive break there will argue that rebound from 1.1323 has completed as a three wave corrective move, and bring deeper fall to retest this low. On the upside, above 1.1659 minor resistance will extend the rally from 1.1323 through 1.1710.){kind=link}