DAILY MARKET OUTLOOK on Major EUR/USDUpdate Time: 27 Mar 2015 01:05 GMT
Despite euro's rally to 1.1052 in Europe yesterday, price retreat after being capped below last Wednesday's post-FOMC high at 1.1062 and then tumbled to 1.0856 in New York.
This suggests further choppy trading inside recent broad range of 1.1062-1.0613 would continue and consolidation with downside bias is seen for weakness towards 1.0830/40 before prospect of a rebound.
On the upside, only above 1.0940/50 would indicate a low is possibly made and bring gain towards 1.1000.
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