EUR/USD Daily Outlook

Daily Pivots: (S1) 1.1030; (P) 1.1070; (R1) 1.1100; More…

Intraday bias in EUR/USD is neutral for the moment while near term outlook is mixed. On the downside, break of 1.0981 will resume the decline from 1.1179 for retesting 1.0879 low. On the upside, above 1.1116 will bring a test on 1.1179 resistance.

In the bigger picture, rebound from 1.0879 is seen as a corrective move first. In case of another rise, upside should be limited by 38.2% retracement of 1.2555 to 1.0879 at 1.1519. And, down trend from 1.2555 (2018 high) would resume at a later stage. However, sustained break of 1.1519 will dampen this bearish view and bring stronger rise to 61.8% retracement at 1.1915 next.