DAILY MARKET OUTLOOK
Update Time: 26 May 2015 01:53 GMT
EUR/USD - 1.0936
Despite trading narrowly in holiday-thinned North American session on Monday, euro-bearish news on Greek debt repayment which came out earlier in Australia sent the euro lower at Asian open today to a fresh 3-week low of 1.0931.
This is suggesting the recent decline from May's 3-month peak at 1.1467 would pressure price to 1.0900/10 after consolidation, near term 'loss of momentum' should keep euro above dynamic sup at 1.0843 today (being 61.8% r of 1.0457-1.1457).
On the upside, only above 1.1008/10 res would signal a temporary low is made, yield stronger retracement to 1.1040/43 but 1.1062 (previous sup, now res) should remain intact and yield another decline.
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