EUR/USD holds a neutral intraday stance, with Action Forex expecting more consolidation above 1.1323 while 1.1499 caps the pair as resistance. A break below 1.1323 reopens the downside toward 1.1175; a decisive move above 1.1499 shifts the bias back up.
Action Forex reads the intraday bias in EUR/USD as neutral, with room for more consolidation above 1.1323. The pair sits below 1.1499, a level that turned from support into resistance.
That resistance keeps the near-term risk pointed down. A break of 1.1323 would resume the fall from 1.2081 toward the 100% projection of 1.2081 to 1.1408 measured from 1.1848, which lands at 1.1175. A decisive break of 1.1499, however, would turn the bias back to the upside, targeting the 55-day exponential moving average now at 1.1559 and above.
The wider chart sharpens the stakes. Focus returns to the 38.2% retracement of 1.0176 to 1.2081 at 1.1353, and a decisive break there would revive the case for a medium-term bearish reversal after the rejection at the 1.2 cluster. Beyond that, Action Forex points to the 61.8% retracement at 1.0904 as the next downside marker.
The upside case turns on the same 1.1353 level. Action Forex says a strong rebound from 1.1353, followed by a break of 1.1621, would keep the medium-term bullish view intact.
Source: Action Forex
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