EURUSD Forecast

The EURUSD was indecisive yesterday but overall still able to maintain its intraday bearish bias after the false breakout above 1.2641. Potential daily range is seen between 1.2530 – 1.2435. I still prefer a bearish scenario at this phase but need a clear break below 1.2435 to continue the bearish scenario testing 1.2287 region. On the upside, a clear break and daily close above 1.2530/50 will interrupt the bearish intraday outlook but as long as stays below 1.2641 I still prefer to sell on rallies.

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