Euro's sharp recovery from the low of 1.1035 and move back above 1.1066 (50% of 1.0517-1.1616) suggests the corrective move from post Brexit low of 1.09115 has not ended as previously suggested by yesterday's drop and instead a break above 200-DMA level of 1.1096 from here could yield another re-test of 1.1186 (previous day's high) - 1.12.
On the lower side, only a day end closing below 1.1066 from here would indicate the corrective rally from post Brexit low has ended. Prices then could move back to 1.09 handle.
On the lower side, only a day end closing below 1.1066 from here would indicate the corrective rally from post Brexit low has ended. Prices then could move back to 1.09 handle.
