DAILY MARKET OUTLOOK on Major
Update Time: 26 Mar 2020 03:30GMT
EUR/USD - 1.0889
The single currency's brief break of Tuesday's high at 1.0887 to 1.0893 suggests upmove from Monday's near 3-year trough at 1.0637 has once again resumed and further gain to 1.0956 would be seen after minor consolidation, however, near term loss of momentum would keep price below resistance at 1.0981 and yield a much-needed retreat early next week.
On the downside, only below 1.0786 would indicate a temporary top has been made and risk stronger retracement to 1.0747, then 1.0721 before prospect of rebound.
Pay attention to release of German Gfk consumer sentiment at 07:00GMT.
Street forecast is for a drop to 7.1 from previous reading of 9.8.
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