DAILY MARKET OUTLOOK Update Time: 12 Oct 2015 01:08 GMT
EUR/USD - 1.1370
Although price has retreated after Friday's breach of last October's high at 1.1319 to 1.1387 on dovish FOMC minutes and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1387, break would yield stronger retracement of decline from 1.1460 towards 1.1405/10.
However, near term loss of momentum would keep price well below 1.1336 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
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