Intraday bias in EUR/USD is turned neutral first with current recovery. On the downside, below 1.1565 will extend the fall from 1.1710 to 55 D EMA (now at 1.1549). Sustained 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. Meanwhile, above 1.1659 will keep the near term rally intact, and bring retest of 1.1710 first.
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.
. Sustained 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. Meanwhile, above 1.1659 will keep the near term rally intact, and bring retest of 1.1710 first.){kind=link}