EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.4072 but whipsawed to the upside and hit 1.4214 earlier today in Asian session after formed a triple bottom formation on hourly chart around 1.4070.  The bias is bullish in nearest term but note that the current bullish momentum should be considered just as a corrective move unless price breaks above 1.4320 and my overall intraday bias remains to the downside. Immediate resistance remains around 1.4250 ( 61.8% Fibonacci retracement of 1.3968 – 1.4695) followed by 1.4320. Immediate support at 1.4135. A clear break below that area could end the current bullish correction testing 1.4000 strong/psychological support area.

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