Euro's retreat from 8-month high of 1.1616 to 2-month low of 1.1129 followed by a corrective rally and a rise to 1.1217 indicates a short-term bottom is in place and the spot could see sideways action, especially given the US data and Yellen speech is due today.
Failure to sustain above 1.1196 - 38.2% of 1.0517-1.1616 as seen now could see spot re-test 1.1150.
Only a day end closing below 1.1134 (rising trend line on daily) would signal continuation of retreat from 8-month high of 1.1616
Failure to sustain above 1.1196 - 38.2% of 1.0517-1.1616 as seen now could see spot re-test 1.1150.
Only a day end closing below 1.1134 (rising trend line on daily) would signal continuation of retreat from 8-month high of 1.1616
