EUR/USD - 1.0528... Although euro moved narrowly in Asia y'day following retreat fm Mon's 2-week high at 1.0614, price briefly rebounded in early European morning to 1.0606 but then tumbled to 1.0504 in NY on renewd usd's strength.

On the bigger picture, despite euro's Long Term upmove fm 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, decline to a near 3-year 1.0637 low (Mar 2020) signals correction has ended. Although euro staged a rally to a near 33-month 1.2349 peak in early Jan 2021, subsequent selloff to 1.1705 (Mar) signals top is made. Euro's break of 1.1705 n then firm breach below 2020 bottom at 1.0637 in Apr to a 5-year bottom of 1.0350 in mid-May would re- test 2017 1.0341 low (Jan), 'bullish convergences' on daily indicators would keep price abv psychological parity handle. Euro's weakness to 1.0360 in mid-Jun sig- nals correction over n would head twd 1.0213. Only abv 1.0642 risks 1.0748/51.

Today, euro's fall fm 1.0614 to 1.0504 suggests recent erratic upmove fm Jun's 1-month trough at 1.0360 has ended n falling hourly indcators signal downside bias remains for weakness twd 1.0445, a daily close below there would head twd 1.0360 next week. Only abv 1.0571 prolongs choppy swings, risk 1.0605/10.

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