EUR/USD - 1.4052 Daily Market Outlook - Jan 27

 @ibtimes on January 27 2010 2:48 AM

Euro's selloff from 1.4195 to 1.4040 strongly suggests recent decline from last year's high of 1.5145 has resumed and marginal weakness below last week's 6-month low of 1.4029 would be seen, however, loss of downward momentum should prevent steep fall from there and reckon 1.3956/60 would contain downside and bring a much-needed minor correction later.    On the upside, a breach of 1.4106/11 would prolong choppy trading and may bring another corrective upmove to 1.4195 resistance.

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