EUR/USD Mid-Day Outlook: Intraday Bias Leans Towards Upside Momentum

Monday, 8 July 2024, 14:01
The EUR/USD currency pair is currently experiencing an upward trend, with a focus on retesting the key resistance level at 1.0915. A decisive break above this level could lead to further gains, targeting 1.0919 as the next critical projection. However, a dip below the minor support at 1.0802 may temporarily shift the intraday bias to a more neutral stance.
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EUR/USD Mid-Day Outlook: Intraday Bias Leans Towards Upside Momentum

EUR/USD Mid-Day Outlook

Intraday bias in EUR/USD remains on the upside, as rise from 1.0665 is in progress for retesting 1.0915 resistance.

Firm break there will target 100% projection of 1.0601 to 1.0915 from 1.0665 at 1.0919 next.

On the downside, below 1.0802 minor support will turn intraday bias neutral first.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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