DAILY MARKET OUTLOOK on Major
Update Time: 07 Apr 2020 03:30GMT
EUR/USD - 1.0792
Although euro's recent decline from 1.1147 to as low as 1.0769 yesterday suggests correction from Mar's near 3-year bottom at 1.0637 has ended, subsequent recovery would bring sideways trading before marginal weakness, near term loss of downward momentum would keep price above 1.0721 today.
On the upside, only a daily close above 1.0866 may risk stronger retracement towards 1.0904 before prospect of another fall later this week.
The euro area countries will release a slew of eco. data, please refer to our EI section for details. Eurogroup officials meet today in Brussels n fiscal measures to support the EZ economy due to fallout from COVID-19 may come late in the day.
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