EUR/USD: Daily recommendations on major
|EUR/USD - 0.9910
Euro's decline from 0.9999 (Tue) to as low as 0.9835 in New York yesterday due to broad-based usd's rebound suggests 1st leg of upmove from September's 2-decade trough at 0.9537 has ended and downside bias remains for weakness to 0.9800, reckon 0.9768 would contain downside and yield rebound today.
Intra-day strong bounce may head to 0.9950/60 before down and above may risk stronger gain to 0.9994/99 later.
Data to be released on Thursday
Australia AIG construction index, exports, imports, trade balance, China market holiday.
Germany industrial orders, EU retail sales.
U.S. S n P construction PMI, U.S. initial jobless claims, continuing jobless claims and Canada Ivey PMI.
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