Friday June 17, 2005 - 08:18:57 GMT
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EUR/USD Daily Outlook
EUR/USD - 1.2135
Update Time - 08:00GMT
Next Update - 01:30GMT
As euro has rebounded after finding renewed buying at 1.2056, suggesting choppy consolidation above recent low at 1.2017 is likely to continue and a break above yesterday's high at 1.2169 would bring stronger correction of downtrend before prospect of a selloff later.
On the downside, breach of 1.2056 would strongly suggest decline has resumed and bring re-test of 1.2017 low and then one more fall towards daily chart support at 1.1968.
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