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Technicals

EUR/USD - 1.5710 Daily Market Outlook - Jul 4

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04 July 2008 @ 03:28 am EST
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Yesterday's sharp fall from 1.5910 signals recent upmove from 1.5303 has formed a top there and consolidation with downside bias remains for another corrective fall, beow intra-day support at 1.5673 would extend weakness towards 1.5628 before prospect of a rebound due to oversold condition.  

  

On the upside, above resistance at 1.5777 would risk rebound to 1.5800/10 but 1.5858 (previous support) should hold.

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08/29/2008
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