EUR/USD: Daily recommendations on major
|EUR/USD - 1.0053
Despite euro's short-covering rebound from 1.0073 in post-NFP Fri, yesterday's selloff below there to a fresh 24-year bottom at 1.0035 in New York on broad-based safe-haven buying in usd suggests price would head to 'parity' handle, break would yield further weakness towards 0.9949 later.
On the upside, only a daily close above 1.0092 would indicate a temporary low is in place and risk stronger retracement towards 1.0117, break may head to 1.0148/51.
Data to be released on Tuesday
U.K. BRC retail sales, Japan producer prices, New Zealand NAB business conditions, NAB business confidence, Germany ZEW economic confidence, ZEW current conditions, EU ZEW survey expectation and US redbook.
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