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- EUR/USD set to suffer a substantial drop to 1.10 over 2022 – Scotiabank
EUR/USD set to suffer a substantial drop to 1.10 over 2022 – Scotiabank
The euro is following broad losses against the dollar. Downside risk persists for the world's most popular currency pair and economists at Scotiabank see EUR/USD nosediving to the 1.10 over the next year.
Support is 1.15 followed by the 1.14
“The ECB’s dovishness will soon see the EUR/USD tackling the 1.15 level and a test of 1.14 should also come with relative ease while we anticipate losses to extend to the low 1.10s over 2022.”
“Near-term risks around climbing contagions in Europe also act as a drag on the common currency.”
“The EUR will have to trade past the mid-1.16s area to counteract downtrend resistance from its mid-year highs, but we expect selling pressure to emerge well before then upon a cross of 1.16.”
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