EUR/USD Targets 1.0904 as ActionForex Keeps Downside Bias

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EUR/USD Targets 1.0904 as ActionForex Keeps Downside Bias

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EUR/USD

ActionForex says the intraday bias in EUR/USD stays on the downside, with the current decline targeting 1.0904. The pair's fall from the 1.2081 medium term top could be reversing a longer rally.

EUR/USD keeps an intraday bias to the downside, according to ActionForex. The current decline should target the 1.0904 fibonacci level. In case of a recovery, risk stays on the downside as long as 1.1272 resistance holds.

The wider picture points the same way. ActionForex says the fall from the 1.2081 medium term top could be reversing the rise from 1.0176, the 2025 low, and probably even the rise from 0.9534, the 2022 low.

Next, a deeper fall should head to the 61.8% retracement of 1.0176 to 1.2081 at 1.0904. In case of a rebound, risk stays on the downside as long as 1.1323 support turned resistance holds.

Source: ActionForex

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