DAILY MARKET OUTLOOK
Update Time: 29 Apr 2016 02:08 GMT
EUR/USD - 1.1364
As euro has rebounded after yesterday's intra-day pullback from 1.1368 (Europe) to 1.1310 in New York, suggesting upside bias remains for erratic rise from Monday's 3-week trough at 1.1216 to extend gain towards next chart objective at 1.1399 after consolidation.
However, a daily close above there is needed to confirm early correction from April's 5-1/2 month peak at 1.1465 has ended there and yield re-test of this res next week, then resumption of Medium Term uptrend to 1.1500 later.
On the upside, only a daily close below 1.1272 would indicate aforesaid recovery from 1.1216 over instead and bring re-test of 1.1216, break would extend weakness to 1.1160/70.
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