DAILY MARKET OUTLOOK Update Time: 05 May 2015 01:00GMT
EUR/USD - 1.1145
Despite euro's resumption of erratic up move from March's 12-year trough at 1.0457 to a fresh 2-month peak at 1.1290 last Friday, subsequent sell off to 1.1175 and then 1.1122 yesterday signals a temporary top has been made and consolidation with mild downside bias is seen for a retracement to 1.1072.
However, reckon 1.1062 (previous key resistance, now sup) would hold and bring rebound later.
On the upside, only above 1.1290 would extend aforesaid rise to retrace long-term downtrend has resumed and yield further gain to 1.1340/50.
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