Wednesday June 29, 2005 - 08:45:10 GMT
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EUR/USD Daily Outlook
EUR/USD - 1.2033
Update time - 08:30GMT
Next update - 01:30GMT
Euro's decline from 1.2187 suggests the correction from last week's low at 1.1981 has ended there and although a re-test of this support cannot be ruled out, oversold condition should prevent steep fall below there and risk has increased for a corrective rebound.
Above 1.2100 would signal further choppy trading is in store and bring recovery to 1.2130/40 but said resistance would remaiin intact.
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