DAILY MARKET OUTLOOK on Major
Update Time: 01 June 2020 03:30GMT
EUR/USD - 1.1116
Euro's resumption of recent upmove to a 2-month peak of 1.1144 on Friday due to continued broad-based usd's weakness and month-end euro's demand suggests test of daily res at 1.1147 res would be seen after consolidation, break would extend medium-term rise towards 1.1200.
Intra-day retreat would bring initial sideways swings before up and only below 1.1030/35 (previous res, now sup) confirms temporary top is in place and risks stronger retracement towards 1.0992 later this week.
The euro area countries will release a slew of PMI data despite holidays in key centres in Germany and France, please refer to our EI page for details.
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