EUR/USD - 1.4370 Daily Market Outlook - Dec 24

24 December 2009 @ 02:41 am EDT

Yesterday's strong rebound signals recent erratic decline from this year's high of 1.5145 has indeed formed a temporary low at 1.4218 and consolidation with upside bias is seen for a minor retracement towards 1.4412, however, break is needed to bring further gain to 1.4503/05, however, resistance at 1.4591 would remain intact and yield selloff later.  

  

On the downside, only below 1.4276 would signal recovery is over and yield resumption of aforesaid fall to 1.4218.

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