[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]22 Feb 2017[/B] [I]05:11 GMT[/I]
EUR/USD - 1.0547
Euro’s intra-day selloff below 1.0603/06 sup to as low as 1.0526 in New York morning on Tuesday signals recent decline has resumed and expect minor consolidation before bringing re-test of last week’s 1.0622 low, break there would extend early decline from February’s 1.0829 peak to 1.0485/90.
Near term loss of downward momentum should keep price above daily pivotal sup at 1.0454.
On the upside, only above 1.0603 aborts present bearish scenario on euro and may risk stronger retracement towards 1.0630/33.