EUR/USD - 1.3620 Daily Market Outlook - Feb 22

on February 22 2010 3:29 AM

Despite last week's selloff to a 9-month low of 1.3443 on Friday, subsequent rebound suggests recent decline has formed a temporary low there, consolidation with upside bias would be seen and above 1.3655 would bring stronger retracement to 1.3730, however, reckon 1.3815/20 should cap upside and yield selloff later.    On the downside, only below 1.3546 would signal the correction from 1.3443 is over and bring weakness to 1.3484 first.

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