Thursday June 16, 2005 - 08:35:26 GMT
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EUR/USD Daily Outlook
EUR/USD - 1.2080
Update time - 08:00GMT
Next update - 01:30GMT
Yesterday's strong rebound signals recent downtrend has made a temporary low at 1.2017 and few days of consolidation with upside bias would be seen for a retracement, however, reckon 1.2180/90 should cap recovery and yield another decline later.
On the downside, only a breach of 1.2035 would signal downtrend has once again resumed and yield one more fall to 1.1960/70...
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