EUR/USD is holding below the 1.1499 support-turned-resistance, keeping the intraday bias neutral with further decline favored. A break of 1.1323 would resume the drop toward 1.1175, while a decisive move above 1.1499 would shift the focus back to the upside.
EUR/USD remains below 1.1499, a level that flipped from support into resistance and now caps the pair. Intraday bias stays neutral, but the setup favors further decline. On the way down, a break of 1.1323 would resume the fall from 1.2081 toward the 100% projection of 1.2081 to 1.1408 from 1.1848, which sits at 1.1175.
The upside case is not gone. A decisive break of 1.1499 would turn bias back up toward the 55-day EMA, now at 1.1559, and higher. For now, price action stays pinned under that resistance.
Zooming out, the focus is back on the 38.2% retracement of 1.0176 to 1.2081 at 1.1353. A decisive break there would revive the case for a medium-term bearish trend reversal, following the rejection at the 1.2 key cluster resistance. From there, a further fall toward the 61.8% retracement at 1.0904 would come into view.
That bearish read is conditional. A strong rebound from 1.1353, followed by a break of 1.1621 resistance, would keep the medium-term picture bullish instead.
Source: Action Forex
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