EUR/USD - 1.1950 Daily Market Outlook - Jun 9

 @ibtimes
on June 09 2010 4:32 AM

Despite yesterday's brief bounce to 1.2010, subsequent retreat suggests further choppy consolidation inside near term established range of 1.1876-1.2010 broad range would continue with neutral.     Below 1.1901 would confirm downtrend has once again resumed and yield subsequent re-test of the 4-year low of 1.1876 and then one more fall to 1.1830/35. On the upside, breach of 1.2010 would bring stronger correction to 1.2070/75, however, 1.2110 (previous support, now resistance) is expected to remain intact.

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