EUR/USD's fall was contained at 1.4272 and rebounded strongly. The development indicates that correction from 1.4217 is still in progress and intraday bias is flipped to the upside for 1.4457 and above. Nevertheless, we'd still expect upside of the consolidation to be limited by 38.2% retracement of 1.5143 to 1.4217 at 1.4571 and bring resumption of fall from 1.5143. Below 1.4272 will flip intraday bias back to the downside. Further break of 1.4217 will target retracement of 1.2329 to 1.5143 at 1.4068 next.
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