EUR/USD: Daily recommendations on major
|Daily market outlook on major
Update Time: 13 July 2022 03:00GMT.
EUR/USD - 1.1879
Although euro's rebound after yesterday's selloff to a fresh 20-year bottom of 1.000 in Europe on continued usd's strength suggests recent erratic decline has made a temporary bottom, as 1.0073 has capped subsequent recovery, bearishness is retained for weakness to 0.9970/75 but loss of momentum should keep price above projected support at 0.9949.
On the upside, only a daily close above 1.0073 would risk stronger retracement to 1.0117/22.
Data to be released on Wednesday
New Zealand food price, RBNZ interest rate decision, Australia consumer sentiment, China exports, imports, trade balance.
U.K. GDP, trade balance, industrial output, manufacturing output, construction output, Germany CPI, HICP, France CPI, EU industrial production.
U.S. MBA mortgage application, CPI, Federal budget and Canada BOC interest rate decision.
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