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Daily Market Outlook
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| Daily
Market Outlook (11 Mar 2010) |
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| Update
Time: |
11 Mar 2010 08:00GMT |
| Next Update
At: |
00:30GMT |
EUR/USD - 1.3634
The single currency rebounded strongly to 1.3680 yesterday, suggesting further choppy sideways trading inside near term established range of 1.3530-1.3736 broad range would continue with upside bias, however, a breach of said upper level is needed to signal another leg of corrective upmove from last week's 9-1/2 month low of has taken place and bring further gain to 1.3800 but daily resistance at 1.3840 is expected to remain intact.
On the downside, below 1.3596 may bring weakness to 1.3530/37, break would indicate aforesaid correction has possibly ended and yield fall to 1.3460, however, said daily support is likely to hold on 1st testing. |
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