DAILY MARKET OUTLOOK on Major EUR/USDUpdate Time: 16 Apr 2015 01:09 GMT
Euro's intra-day breach of Tuesday's high of 1.0708 to 1.0746 shortly after Asian open signals erratic rise from Monday's 4-week trough at 1.0521 has resumed and further gain to 1.0778-1.0789 would be seen.However, reckon 1.0803 (previous sup, now resistance) would cap upside due to near term loss of momentum and yield retreat later.
On the downside, only a move back below 1.0664 (Wed's NY afternoon sup) would indicate a top is possibly made and shift risk to downside for weakness towards 1.0615/25.
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