DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 Aug 2016 02:02 GMT
EUR/USD - 1.1185
The single currency's selloff on Friday post hawkish comments from Fed's Yellen to 1.1181, then marginally lower to 1.1158 yesterday suggests decline from August's 8-week peak at 1.1366 has once again resumed and consolidation with downside bias would be seen for stronger retracement towards 1.1130.
However, loss of momentum would keep price above 1.1070 today and yield rebound later.
On the upside, only above 1.1245 would indicate aforesaid correction has ended and turn outlook bullish for gain to 1.1313 before prospect of another retreat.
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