Tuesday July 12, 2005 - 08:52:07 GMT
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EUR/USD Daily Outlook
EUR/USD - 1.2180
Update time - 08:30GMT
Next update - 01:30GMT
Euro's intra-day rally indicates upmove from last week's low at 1.1868 to retrace recent downtrend is under way and further subsequent gain is envisaged, however, overbought condition should limit upside to 1.2260/65 and risk from there has increased for a retreat.
On the downside, only below 1.2086 would signal temporary top is made and risk stronger pullback.
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