Despite euro's rise to a 5-month peak of 1.0954 last Tue, loss of momentum and subsequent fall to 1.0778 Tue, then to 1.0745 in New York yesterday on renewed usd's strength suggests a temporary top is made and intra-day rebound would yield consolidation before prospect of another fall towards 1.0720/25, 1.0677/80.
On the upside, a daily close above 1.0820/30 would risk stronger retracement to 1.0858/61, break, 1.0890/95 later. |
