EUR/USD Daily Analysis
Intraday bias in EUR/USD remains neutral and the outlook stays bearish with 1.0121 minor resistance intact. A break of 0.9899 will resume a larger downtrend to 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860. A firm break there should prompt downside acceleration to a 100% projection at 0.9546. However, a firm break of 1.0121 will dampen this view and turn the focus to 1.0368 resistance instead.
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 1.0368 resistance holds, in case of a strong rebound.
