DAILY MARKET OUTLOOK Update Time: 31 Jul 2015 01:07 GMT
EUR/USD - 1.0936
Euro's decline from this week's high of 1.1129 (Monday) to as low as 1.0894 yesterday signals correction from July's 12-week bottom at 1.0808 has ended there and as long as 1.1122 (previous support, now resistance) holds, consolidation with downside bias remains, a daily close below 1.0869 would retain bearishness for a re-test of 1.0808 next week.
On the upside, only a move back above 1.1122 would prolong choppy trading but price should falter below 1.1080 (post-FOMC high on Wed) and yield another fall.
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