DAILY MARKET OUTLOOK
Update Time: 4 May 2016 02:08 GMT
EUR/USD - 1.1480
Despite yesterday's resumption of recent upmove and intra-day rally to an 8-month peak of 1.1617 in Europe, subsequent selloff in new York session due to broad-based short-covering in the greenback confirms temporary top has been made and consolidation with initial downside bias is seen, below 1.1447/48 support needed to bring stronger correction to 1.1410/14.
On the upside, above 1.1539/42 suggests 1st leg of correction is over and may bring stronger gain to 1.1580/85 but 1.1617 should remain intact ahead of release Fri's key U.S. jobs data.
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