EUR/USD Daily Outlook

Jul 20 2010

EUR/USD's rally resumed after brief consolidations and reaches as high as 1.3027 so far. Intraday bias remains on the upside and further rally should be seen to 1.3105/3123 cluster level next (38.2% retracement of 1.5143 to 1.1875 at 1.3123, 161.8% projection of 1.1875 to 1.2466 from 1.2149 at 1.3105). Nevertheless,