DAILY MARKET OUTLOOK Update Time: 11 Nov 2015 01:17 GMT
EUR/USD - 1.0739
The single currency's selloff to as low as 1.0704 (Reuters) on dollar's broad-based strength on Friday after the release of very upbeat U.S. jobs report, then lower 1.0674 yesterday signals erratic decline from 1.0715 remains in progress and consolidation with downside bias remains for weakness towards 1.0660/70.
However, over sold condition would keep price well above 1.0620/30 and yield a much-needed correction later this week.
On the upside, only above 1.0834 would be the first signal that a temporary low has been made and turn outlook bullish for a stronger retracement towards 1.0898/00.
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