DAILY MARKET OUTLOOK Update Time: 05 Aug 2015 01:04 GMT
EUR/USD - 1.0875
Yesterday's breach of last week's low at 1.0894 ansd then daily close below there signals euro's correction from July's 12-week trough at 1.0808 has ended earlier at 1.1129 and consolidation with downside bias remains. However, break of 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.
On the upside, a move back above 1.0988/96 would prolong choppy trading but price should falter well below resistance area a 1.1114-29 and yield another sell-off.
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