EUR/USD: Daily recommendations on major
|EUR/USD - 1.0567
Although euro's strong rise to as high as 1.0601 last Thursday and yesterday's rally above there to 1.0605 in New York on selloff in USD after Fed Powell's less hawkish comments suggests further choppy trading above May's 5-year bottom at 1.0350 would continue with mild upside bias and gain towards 1.0642 may be seen later.
On the downside, only daily close below 1.0511 (New York low) signals a temporary top is made and head back towards 1.0470.
Data to be released on Wednesday
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.
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