EUR/USD Daily Analysis
Range trading continues in EUR/USD. Outlook is unchanged and intraday bias remains neutral. On the downside, the break of 1.0095 minor support will argue that the larger downtrend is ready to resume. Intraday bias will be back to the downside for retesting 0.9951 low first. For now, the outlook will stay bearish as long as 1.0348 support turned resistance holds, even in case of another rise.
In the bigger picture, the downtrend from 1.6039 (2008 high) is still in progress. The next target is a 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, the outlook will stay bearish as long as the 1.0773 resistance holds, in case of a strong rebound.
