EUR/USD is trading with a bearish intraday bias, holding below the key pivot level at 1.17200, which reflects ongoing selling pressure and weak upward momentum. As long as the pair remains below this level, the downside scenario is favored, with expected targets at 1.16800 followed by 1.16600 if the decline continues.
However, if the pair reverses direction and breaks above 1.17200, a corrective rebound may develop, opening the path toward 1.17400 and then 1.17700. Overall, sustained trading below 1.17200 supports further downside toward 1.16800 in the near term.
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