DAILY MARKET OUTLOOK Update Time: 28 May 2015 01:09 GMT
EUR/USD - 1.0913
Euro's strong rebound from a fresh 1-month trough at 1.0819 on Wednesday due to optimism over Greek debt deal suggests a temporary low has been made and choppy trading with mild upside bias would be seen.
However, above 1.0959 (previous support, now resistance) needed to confirm this view and yield stronger retracement of decline from May's 3-month peak at 1.1467 towards 1.1008/10.
On the downside, below 1.0819 would extend aforesaid fall to retrace the entire rise from March's 12-year trough at 1.0457 towards 1.0740/50 but reckon 1.0700/10 would hold.
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