EUR/USD upward reverse seems to be strong one after pair managed to overcome correction in late Friday last week and now price is trading above 1.3498 level towards a test of 1.35844 resistance level. Intraday bias remains on down move as long as price is trading below 1.3691 level and. On the upside, reverse in price to be strong one, price needs a consolidative trade above 1.3498 level and sustain gain there, this will confirmed the rebound, thus would indicates that bulls are accumulating little power for a test of the 1.3584 level. Only sustain trade above that level would send EUR/USD above 1.3839 level.
Only sustain trade below 1.3498 level is in favor of down move, if price break the swing low price will decline further more. In this case, first target is towards test of the key support zone at 1.3100/24 – where is FE 1.618. Sustain trade below it would further decline in price towards psychological key support at 1.3000 level.
Daily Pivots: Pivot point– 1.3392, 1st Support – 1.3323, 1st Resistance – 1.3549