DAILY MARKET OUTLOOK on Major EUR/USDUpdate Time: 20 Apr 2015 01:17 GMT
Despite euro's retreat after extending last week's upmove from 1.0521 (Monday) to 1.0849 Friday, subsequent rebound from 1.0734 in New York.
This suggests pullback has ended there and consolidation with upside bias remains, above said resistance anytime would bring stronger retracement of decline from March's peak at 1.1062 towards 1.0890/00.
On the downside, only a daily close below 1.0734 would indicate a top is possibly made and shift risk to downside for weakness towards 1.0685 and then 1.0640/50.
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