[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]11 Feb 2016[/B] 05:02 GMT
[B]EUR/USD - 1.1287[/B]
Despite euro’s intra-day sharp fall to session low of 1.1161 after release of Fed Yellen’s prepared text, subsequent rally to 1.1299 near New York close following Yellen’s Congressional testimony on Capital Hill, then intra-day brief rise to 1.1320 in Asia today suggests correction from Tuesday’s fresh 3-1/2 month peak at 1.1338 has ended and outlook remains mildly bullish for re-test of 1.1338 after consolidation, ‘loss of momentum’ should cap price below previous daily res at 1.1386.
On the downside, only below 1.1220/30 would prolong choppy trading below 1.1338, risk weakness to 1.1190/00, however, reckon 1.1161/63 sup would contain weakness.