Daily Recommendations on Major - EUR/USD

Update Time: 14 Jun 2018 5:30 GMT

EUR/USD - 1.1791
Despite euro's intra-day spike down to a 6-day low of 1.1726 after Fed's hawkish tilt, subsequent rally to session highs of 1.1801, then intra-day marginal gain to 1.1805 suggests correction from last week's top at 1.1840 has ended and choppy sideways swings are in store ahead of key ECB's live monetary policy meeting in Riga, Latvia later today.

As long as 1.1726 holds, re-test of 1.1840 is envisaged, break would extend recent upmove from May's 1.1510 bottom to 1.1880/90 later and only below said sup risks stronger retracement towards 1.1675 before prospect of rebound.

U.S. will release a slew of eco. data later today starting with weekly jobless claims, import n export prices, May retail sales n business inventories.

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