EURUSD support seen at 1.1350/80 for any intraday pullbacks!

The EURUSD seems to be preparing for a short pullback and retrace the rally between 1.1289 through 1.1450 levels lately. It is seen to be trading at 1.1435/36 levels for now after hitting 1.1440 levels today. Ideally, it should remain below yesterday's high at 1.1450 levels and continue drifting lower in a corrective manner. Looking at the short term wave counts (not shown here), EURUSD looks to have completed an impulse from 1.1289 to 1.1450 levels. As discussed yesterday, ideally any impulse is followed by a corrective wave, in this case a potential drop into 1.1350/80 support zone (fibonacci 0.618 to fibonacci 0.382 levels of the rally). It remains to be seen whether the correction occurs in the next few trading sessions. We would look for a potential bullish reversal after the corrective drop, to turn bullish again. At this point in time, we stand neutral for short term (1-2 days), looking for a corrective drop to materialize.


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