EUR/USD: Daily recommendations on major
|DAILY MARKET OUTLOOK on Major
Update Time: 13 Aug 2020 03:30GMT
EUR/USD - 1.1807
Despite the single currency's selloff from last Thursday's fresh 2-year peak at 1.1915 to 1.1712 yesterday, subsequent rally to 1.1816 the same day suggests the first leg of correction has ended and consolidation with upside bias remains for gain to 1.1840/50, however, resistance at 1.1880/90 should remain intact and yield retreat later.
On the downside, only below 1.1755/60 would indicate aforesaid recovery has ended instead and risk weakness to 1.1723 later.
Data to be released on Thursday :
New Zealand food price index, UK RICS housing survey, Japan corporate goods price, machine tool orders, Australia employment change, unemployment rate.
France ILO unemployment rate, Germany CPI, HICP, wholesale price index.
U.S. import prices, export prices, initial jobless claims, continued jobless claims.
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