EUR/USD's intraday bias stays neutral, with more consolidation possible above 1.1159. ActionForex's latest technical outlook expects further decline as long as resistance at 1.1379 holds, with a break of key support potentially extending the fall toward 1.0861, while the broader medium-term picture may be turning away from the euro's multi-year rebound.
EUR/USD's intraday bias stays neutral, and more consolidation could be seen above 1.1159, according to ActionForex's latest technical outlook. Further decline is expected as long as resistance at 1.1379 holds.
In the bigger picture, the medium-term fall from 1.2081 could be reversing the rise from 1.0176, the 2025 low, and probably even the rally from 0.9534, the 2022 low. A deeper decline would then target the 61.8% retracement of the 1.0176-to-1.2081 range at 1.0904.
Risk stays tilted to the downside as long as resistance at 1.1710 holds, should the euro attempt a rebound, the outlook adds.
Source: ActionForex
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