EUR/USD Daily Analysis
Intraday bias in EUR/USD remains on the upside at this point. The current rise from .9534 should target a 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164 next. On the downside, below 1.0729 minor support will turn intraday bias neutral again first. But the near-term outlook will stay bullish as long as 1.0482 support holds in case of retreat.
In the bigger picture, current development suggests that the rally from the 0.9534 low is a medium-term up trend rather than a correction. Further rally favors a 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.
