EUR/USD - 1.0530
Despite euro's resumption of recent erratic rise from June's 1-month trough of 1.0360 to a 2-week high of 1.0614 Mon, yesterday's break of 1.0555 support to 1.0504 in New York on broad-based rebound in usd suggests a temporary top is made and stronger retracement towards 1.0445 is envisaged before prospect of recovery later.
On the upside, only a daily close above 1.0555 would prolong choppy sideways swings and risk gain to 1.0590/00.
Data to be released on Wednesday
U.K. BRC shop price index, Japan retail sales, consumer confidence, Australia retail sales, Swiss investor sentiment, EU business sentiment, economic sentiment, industrial sentiment, services sentiment, consumer confidence,
U.S. mortgage application, GDP and PCE prices.
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