EUR/USD - 1.4397 Daily Market Outlook - Jan 15

  @ibtimes on January 15 2010 3:23 AM

The single currency fell sharply on rumour of Germany Merkel resignation which was denied in late Asia, suggesting decline from this week's high of 1.4585 to retrace recent upmove from 1.4218 remains in progress and further weakness to 1.4356 is likely, however, oversold condition should limit downside to 1.4301/10 and yield rebound later.     On the upside, a breach of 1.4445/53 would signal aforesaid fall has made a low and bring rebound to 1.4510/19.

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