EUR/USD - 1.1282

Despite resumption of recent downtrend to a fresh 16-month trough of 1.1250 Fri due to Covid concerns in Europe, subsequent short-coveriing rally to 1.1322 in New York would bring choppy range trading, reckon 1.1350/60 would cap recovery and yield decline.

On the downside, below 1.1265 signals recovery over, however, loss of downward momentum would limit weakness to 1.1220/30 today.

Data to be released today:
EU consumer confidence.
U.S. national activity index, existing hole sales on Monday.

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