EUR/USD Daily Analysis
Intraday bias in EUR/USD remains on the downside for retesting 1.0348 and 1.0339 long-term support. Decisive break there will resume larger down trend. On the upside, above 1.0641 minor resistance will turn intraday bias neutral first.
In the bigger picture, the focus stays on 1.0339 long-term support (2017 low). Decisive break there will resume whole down trend from 1.6039 (2008 high). The next target is a 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090. However, a firm break of 1.0805 support turned resistance will delay this bearish case. The rise from 1.0348 is at least a correction to the downtrend from 1.2348. A stronger rebound would be seen to 38.2% retracement of 1.2348 to 1.0348 at 1.1112.
