EUR/USD Mid-Day Outlook

Jul 23 2010

EUR/USD's rise from 1.1875 might still be in progress but even in case of further rise, we'd continue to look for sign of loss of momentum as EUR/USD approaches 1.3105/3123 cluster level (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).