DAILY MARKET OUTLOOK Update Time: 22 May 2015 01:23 GMT
EUR/USD - 1.1122
Euro's erratic rise from Wednesday's low at 1.1062 to as high as 1.1181 in Europe yesterday signals decline from last Friday's 3-month peak at 1.1467 has made a temporary low there and despite subsequent intra-day retreat in New York session, reckon price would hold above said support and bring another corrective bounce later, above 1.1181 would extend gain to 1.1217 later.
On the downside, only below 1.1062 would extend aforesaid fall to retrace the entire upmove from March's 12-year trough at 1.0457 towards 1.0962 next week.
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