EUR/USD Daily Outlook
Daily Pivots: (S1) 1.3582; (P) 1.3613 (R1) 1.3650; More....
Intraday bias in EUR/USD remains on the upside and current rally is expected to continue to retest 1.3710 resistance next. On the downside, break of 1.3461 is needed to indicate short term topping. Otherwise, outlook will stay cautiously bullish in the pair.
In the bigger picture, overall price actions from 1.6039 is viewed as a corrective pattern which is still in progress. Below 1.3104 support will likely bring deeper decline back to 1.0242 but strong support could be seen there to bring rebound. Above 1.3710 will bring stronger rebound but in that case, we'd be cautious on reversal below 1.4939 resistance. Corrective price action is set to continue in medium term.