DAILY MARKET OUTLOOK Update Time: 06 May 2015 01:09 GMT
EUR/USD - 1.1180
Despite yesterday's initial sell off below Monday's low at 1.1122 to 1.1066 in Europe, subsequent intra-day rally to 1.1223 (New York) suggests correction from last Friday's 2-month peak at 1.1290 has ended there and consolidation with upside bias remains.
Above 1.1223/24 anytime would confirm this view and yield resumption of early up move from March's 12-year trough at 1.0457 to re-test said resistance, break, 1.1340/50 later.
On the downside, only below 1.1100 would indicate aforesaid recovery is over instead and bring re-test of 1.1066.
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