EURUSD Forecast

The EURUSD was indecisive yesterday. Price attempted to push higher, topped at 1.3118 but closed lower at 1.3053. There are no changes in my technical outlook and price is still in a consolidation phase. The bias remains neutral in nearest term. My overall intraday technical bias remains to the downside and I still prefer to sell on rallies as long as price stays below 1.3281. Any upside pullback now is normal and should be seen as a corrective movement. Immediate resistance is seen around 1.3118 (yesterday’s high). A clear break above that area could trigger further bullish correction testing 1.3160/96. On the downside we still need a clear break below 1.2947 to continue the bearish scenario testing 1.2873 even lower.

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