EUR/USD - 1.1191
Euro's daily swings in last few sessions after hitting a 2-week high of 1.1249 (Tuesday) are expected to continue and as long as 1.1168 (reaction low) holds, recent upmove from August's 2-year bottom at 1.1028 would head towards next daily target at 1.1285 after consolidation.
Only a daily close below 1.1168 signals first leg of correction has ended, then risk would shift to downside for a stronger retracement of aforesaid rise to 1.1130/35, however, reckon 1.1100/05 would remain intact.
The euro area countries will release a slew of economic data during European morning, please refer to our economic indicator section for details.
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