EUR/USD - 1.3946 Daily Market Outlook - Feb 2

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Despite yesterday's selloff to a 7-month low of 1.3852, current rebound suggests minor consolidation would be seen and retracement towards 1.3988 cannot be ruled out, however, reckon 1.4053/60 should cap upside and yield retreat, below 1.3886 would confirm recent decline has once again resumed and extend marginal weakness below said support before rebound due to loss of downward momentum.  
  
On the upside, breach of 1.4053 would risk stronger correction to 1.4106, however, daily resistance at 1.4195 is expected to remain intact.

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