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Daily Market Outlook (26 May 2016)
Update Time: 26 May 2016 03:45GMT
Next Update At: 00:30GMT
EUR/USD - 1.1181

Despite yesterday's marginal weakness below Tue's 1.1133 low to a fresh 2-month trough of 1.1119, subsequent bounce to 1.1167 in New York and then intra-day break of 1.1180 (last week's low, now res) due to usd's broad-based weakness caused by selloff in dlr/yen suggests recent decline has made a temporary low there and 1-2 days of choppy consolidation with upside bias is seen for a much-needed retracement to 1.1227/31 later, however, reckon res at 1.1243 would remain intact.  
  
On the downside, only below 1.1146 would suggest correction is over and risk decline to 1.1100/10, however, loss of downward momentum should keep euro above 1.1070 this week.  
  
 

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