Daily Recommendations on Major - EUR/USD
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Update Time: 14 Jun 2019 05:30 GMT
EUR/USD - 1.1280
Although euro's decline from last Friday's post-NFP 10-week high at 1.1347 to as low as 1.1269 yesterday confirms recent upmove has made a temporary top there, loss of downward momentum is likely to limit weakness to 1.1252 and bring rebound later, a firm break above 1.1303/08 res would signal pullback has ended and would head back towards said Jun's high next week.
Only a daily close below 1.1252 sup would risk stronger correction towards 1.1203 before prospect of rebound.
Today is the meeting of the ECOFIN in Luxembourg, so one can expect comments from EU officials. On the data front, Germany will kick off with wholesale price index, then France's CPI. Italy's industrial orders, industrial sales and CPI.
We have ECB's Lautenschlager and Enria speaking during Euroepan morning.
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