Day by day Pivots: (S1) 0.9862; (P) 0.9930; (R1) 1.0055; Extra… EUR/USD’s rebound from 0.9534 continues to be in progress and intraday bias stays on the upside. Contemplating bullish convergence situation in day by day MACD, sustained break of 55 day EMA (now at 1.0022) will elevate the possibility of medium time period bottoming at 0.9534. Additional rally ought to then be seen to 38.2% retracement of 1.1494 to 0.9534 at 1.0283. On the draw back, although, break of 0.9734 minor help will convey retest of 0.9534 low as an alternative. Within the greater image, down development from 1.6039 (2008 excessive) continues to be in progress. Subsequent goal is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, break of 1.0197 resistance is required to be the primary signal of medium time period bottoming. In any other case, outlook will keep bearish even with sturdy rebound.
