Intra-Day Market Moving News and Views
Update Time: 17 Jun 2020 04:30GMT
EUR/USD - 1.1259.. Euro moves narrowly in subdued Asian morning after yesterday's selloff from 1.1352 (Europe) to as low as 1.1229 in New York morning due to broad-based rally in usd after robust US retail sales data and then pessimistic comments by Fed's J. Powell which triggered safe-haven usd buying.
As said yesterday's decline suggests correction from Friday's 1-week low at 1.1213 has ended, downside bias remains for a re-test of this sup, then next chart obj. at 1.1196, however, as early fall from 1.1422 last week signals Medium Term upmove has made a temp. top, stronger correction towards 1.1147 is envisaged.
Offers are tipped at 1.1270/80 with stops above 1.1300 while bids are noted at 1.1230-20 with stops reported below 1.1210.
The euro area countries will release a slew of eco. data n we have several ECB members scheduled to speak during European session, please refer to our Economic Indicators page for details
Reprinted from fxstreet.com, the copyright all reserved by the original author.
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