EUR/USD - 1.3784 Daily Market Outlook - Feb 17

 @ibtimes
on February 17 2010 3:44 AM

The single currency rebounded strongly yesterday on active cross buying in euro, suggesting upmove from 1.3532 to retrace recent decline has resumed and further gain towards 1.3840 resistance is likely, however, over-bought condition should prevent strong gain above there and reckon 1.3880/90 would cap upside and yield selloff later.    On the downside, only below 1.3684 would signal aforesaid corrective rise has ended and yield weakness to 1.3634 and then 1.3578.

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