EUR/USD - 1.1915.. Although euro edged lower in subdued Asian morning on Mon n hit session lows of 1.1872 in Europe, intra-day rally in cable lifted price to 1.1919, the single currency later moved narrowly in directionless NY trading.

On the bigger picture, despite euro's LT upmove fm 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, subsequent decline to a near 3-year 1.0637 low in Mar 2020 signals correction has ended. Although euro's impressive upmove to a near 33-month peak of 1.2349 in early Jan 2021 suggests a re-test of 1.2555 may be seen, euro's break of Jan's 1.2055 low to 1.19 53 in early Feb due to broad-based usd's strength signals top is made n fall to 1.1705 (Mar end) would bring retracement of said MT rise twd 1.1695 (38.2% r of 1.0637-1.2349), then twd 1.1603. Last week's rally abv 1.1804 signals MT fall has made a temp. low n may head twd 1.1947 but only abv 1.1990 risks 1.2090/00.

Today, as long as 1.1868/72 sup holds, euro's recent corrective rise fm 1.1705 would head to 1.1947 target, however, bearish divergences on hourly indicators wold cap upside below daily res at 1.1990 n yield decline. A daily close below 1.1861 (upbeat US CPI perhaps) signals top made, 1.1819/21, then 1.1796.

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