Intraday bias in EUR/USD stays on the downside at this point. Sustained break of 100% projection of 1.1848 to 1.1323 from 1.1710 at 1.1185 will extend the fall from 1.2081 to 161.8% projection at 1.0861. On the upside, above 1.1284 minor resistance will turn bias neutral and bring consolidations first.
In the bigger picture, current development suggests that fall from 1.2081 medium term could be reversing the rise from 1.0176 (2025 low), and probably even that from 0.9534 (2022 low). Deeper fall should then be seen to 61.8% retracement of 1.0176 to 1.2081 at 1.0904 next. For now, risk will stay on the downside as long as 1.1710 resistance holds, in case of rebound.
