DAILY MARKET OUTLOOK on Major EUR/USDUpdate Time: 31 Mar 2015 01:39 GMT
EUR/USD - 1.0822
Yesterday's erratic decline to 1.0810 due to renewed market concerns over Greek debt suggests euro's early rebound from last Friday's 1.0801 low, although strong, had ended at 1.0949 and decline from last week's peak at 1.1052 (Thursday) would resume towards chart objective at 1.0767 after consolidation.
However, loss of downward momentum should keep price above 1.0742/46 and risk has increased for a retracement of aforesaid fall later today or tomorrow.
On the upside, a firm rise above Monday's European high would be the 1st signal a low is in place and risk gain to 1.0910/20 and then later towards 1.0949.
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