EUR/USD: Daily recommendations on major
|DAILY MARKET OUTLOOK on Major
Update Time: 10 Aug 2020 03:30GMT
EUR/USD - 1.1791
Despite the single currency's rise to a fresh 2-year peak at 1.1915 last Thursday, subsequent selloff to 1.1756 on usd's broad-based strength in post-NFP trading on Friday suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1722, however, support at 1.1697 should remain intact, yield rebound later this week.
On the upside, only above 1.1850 would indicate aforesaid pullback has ended instead and risk gain to 1.1890/00, then 1.1915 later.
Data to be released today :
New Zealand ANZ business outlook, ANZ own activity, China PPI, CPI.
Swiss unemployment rate, EU Sentix index, Canada leading index and U.S. JOLTS job openings on Monday.
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