EUR/USD - 1.0560

Although euro's rally from Jun's 1-month bottom at 1.0360 to as high as 1.0605 last Wednesday suggests further choppy trading above May's 5-year trough at 1.0350 would continue, Friday's decline to 1.0484 signals consolidation with downside bias remains and below 1.0470 would yield weakness towards 1.0445.

On the upside, only above above 1.0580 would prolong choppy sideways swings and risks re-test of 1.0605, break, 1.0630 later.

Data to be released today

Japan coincident index, leading indicator.
U.S. durables goods, durables ex-transport, durables ex-defense, pending home sales and Dallas Fed manufacturing business on Monday.

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