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Technicals

EUR/USD - 1.5758 Daily Market Outlook - Jul 23

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23 July 2008 @ 03:31 am EST
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The single currency tumbled yesterday, suggesting decline from 1.6040 top to retrace recent upmove has resumed and further weakness to 1.5710/15 is likely, however, low readings on hourly oscillators should prevent steep decline from there and reckon 1.5670/75 woudl hold and yield much-needed rebound later.  

  

On the upside, a rise abv 1.5800 would bring rebound to 1.5832/40 but 1.5900/10 is expected to remain intact...

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