DAILY MARKET OUTLOOK Update Time: 28 Jul 2015 01:23 GMT
EUR/USD - 1.1092
Yesterday's rally above 1.1019 (now sup) to as high as 1.1129 in NY morning signals erratic decline from May's peak at 1.1467 has made a temporary low last week at 1.0808 and as long as support at 1.1050 holds, consolidation with upside bias remains, above 1.1129 would yield stronger retracement towards 1.1160/70 but reckon daily resistance at 1.1216 would remain intact today.
On the downside, only a daily close below 1.1019 (previous resistance, now support) would indicate a top is made and shift risk downside for weakness towards 1.0969.
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