EUR/USD Mid-Day Outlook

Intraday bias in EUR/USD remains neutral at this point. Focus stays on 1.1712 cluster support (61.8% retracement of 1.1553 to 1.1960 at 1.1708). Decisive break there will indicate that rebound from 1.1553 has completed at 1.1960. In that case, deeper fall would be seen to 1.1553 and possibly below to extend the decline from 1.2091. Meanwhile, with 1.1712 support intact, break of 1.1814 minor resistance will retain near term bullishness. And in that case, intraday bias will be turned back to the upside for 1.1960. Break will target 1.2091 high.

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Posted in Forex Market.

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