EUR/USD - 1.4975 Daily Market Outlook - Nov 9

By IBTimes Staff Reporter | November 09 2009 3:16 AM

The single currency rallied above last Friday's high of 1.4918 after the weekend's G-20 meeting ended without any firm statements regarding the greenback's weakness, suggesting the correction from the record high of 1.5064 has possibly ended there and consolidation with upside bias remains, however, said top should hold on first testing and yield retreat. On the downside, expect good support at 1.4811/14 (chart sup and last Friday's low) to remain intact.

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