Daily Recommendations on Major - EUR/USD
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Update Time: 25 Jun 2019 05:30 GMT
EUR/USD - 1.1405
Despite yesterday's resumption of recent upmove to a fresh 3-month high of 1.1403 in New York due to continued usd's weakness, near term loss of upward momentum would prevent strong gain and reckon res at 1.1448 (March high) would cap present rise and yield a much-needed minor correction later today or tomorrow.
On the downside, below 1.1373 would be the 1st signal temporary top is in place and may yield retracement towards 1.1347 before rebound.
On the data front, euro area eco. calendar is pretty light today with France's business climate being the only data due out.
ECB's VP Guindos will speak at an event organised by Italian Banking Association in Rome at 07:15GMT, then later ECB's Coeure will speak at a dinner event organised by ISDA in Frankfurt at 17:15GMT.
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