DAILY MARKET OUTLOOK - EUR/USDUpdate Time: 30 Apr 2015 01:19 GMT
Euro's rally above previous key resistance at 1.1062 (reaction high from March's 12-year trough at 1.0457) signals long-term decline is still being retraced and despite subsequent intra-day retreat to 1.1076 in New York afternoon after Fed statement.
Upside bias remains for said erratic up move from 1.0457 to resume and extend gain towards 1.1264 after consolidation.
On the downside, only a daily close below 1.0991 would indicate a top is made instead and shift risk to downside for weakness to 1.0960 and then possibly towards 1.0918/27.
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