DAILY MARKET OUTLOOKUpdate Time: 23 Jul 2015 01:26 GMT
EUR/USD - 1.0936
Despite yesterday's stronger-than-expected sharp retreat from 1.0967 in Europe to as low as 1.0869 in New York morning, as euro has risen sharply in New York afternoon. suggesting pullback from Tuesday's 1.0969 high has ended there and consolidation with upside bias remains for near term up-move from Monday's 12-week bottom at 1.0808 to resume to 1.1000/10.
However, loss of momentum should cap price below minor res at 1.1036 and yield retreat.
On the downside, only below 1.0869 would abort above short- term bullish scenario on euro as risk would shift to the downside for weakness towards 1.0808/12.
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