Wednesday June 15, 2005 - 09:24:21 GMT
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EUR/USD Daily Outlook
EUR/USD - 1.2064
Update Time - 08:30GMT
Next update - 01:30GMT
Although euro has recovered after making a multi-month low at 1.2017 in Australia and consolidation would be seen, as long as 1.2104/07 holds, bearishness remains for recent downtrend to resume and extend towards 1.2000 psychological level, however, loss of momentum is likely to prevent further steep fall from there and risk has increased for a correction.
On the upside, a rise above 1.2107 would signal a temporary low is made and yield another corrective bounce.
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