DAILY MARKET OUTLOOK
Update Time: 07 May 2015 02:50 GMT
EUR/USD - 1.1335
Euro's rally to a fresh 10-week high of 1.1371 (New York) suggests up move from March's 12-year trough at 1.0457 to retrace long-term decline remains in progress and further gain to 1.1420/30 is seen after consolidation, however, loss of momentum should cap price below daily chart resistance at 1.1455 today and risk has increased for a minor correction later.
On the downside, only a daily close below 1.1290 (Tuesday high, now support) would indicate a temporary top is made and shift risk to downside for subsequent weakness towards 1.1202.
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