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EUR/USD upward move seems to lose momentum after failed attempt to trade above 1.3839 and price dropped towards a test of the trend line and currently pair is searching a support for upward move. Intraday bias is on upside as long as price is trading above 1.584 level. On the upside, price needs a consolidative trade above 1.3691 level and sustain gain there, for upward move and if price break above 1.3839 this would indicates that flag pattern on 4h would be broken. Only sustain trade above that level would send EUR/USD to 1.4051 level.
Only sustain trade below 1.3691 level is in favor of down move, sustain gain below trend line would indicates that flag on 4h is in progress and break below swing low would confirm it. In this case, first target is towards test of the key support zone at 1.3498. Sustain trade below it would further decline in price towards 1.3382 support level.
Daily Pivots: Pivot point – 1.3750, 1st Support – 1.3519, 1st Resistance – 1.3799
