EUR/USD: Daily Recommendations on major
|EUR/USD - 1.1775
Despite euro's resumption of upmove from September's 8-week trough at 1.1613 to a 1-month high of 1.1880 last Wednesday, subsequent erratic fall to 1.1770 in Australia today suggests temporary top is made and weakness to 1.1704/09 would be seen after consolidation but October's 1.1689 low should hold, yield rebound.
On the upside, only above 1.1838 would risk stronger gain to 1.1864/66, break, 1.1880 again.
Data to be released on Wednesday:
Australia CPI, France consumer confidence.
Italy trade balance, producer prices, Swiss investor sentiment.
U.S. MBA mortgage applications, trade balance, wholesale inventories and Canada Bank of Canada interest rate decision.
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