DAILY MARKET OUTLOOK Update Time: 04 Aug 2015 01:00 GMT
EUR/USD - 1.0932
Euro's strong retreat to 1.0965 in NY session on Friday after early intra-day brief rally to 1.1114, then marginal weakness to 1.0941 yesterday signals further choppy trading below last week's top at 1.1129 would continue and with mild downside bias.
However, break of 1.0894 (reaction low on Thursday) needed to indicate correction from July's 12-week trough at 1.0808 has ended and yield weakness towards this support later.
On the upside, only a move back above 1.1114 would bring re-test of 1.1129, break would shift risk to upside for stronger retracement of early erratic fall from 1.1467 (May) towards 1.1216.
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