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- EUR/USD set to move downward to the 1.10 level – Scotiabank
EUR/USD set to move downward to the 1.10 level – Scotiabank
EUR/USD rebounds to the upper 1.13s but upside potential remains limited, according to economists at Scotiabank.
Break above 1.14 would mark a key bullish signal for the euro
“A break above 1.14 (where its 100-day MA of 1.1404 stands) would mark a key bullish signal for the EUR with resistance following at ~1.1450 and the figure area.”
“Support after the 1.1350 zone is ~1.1320 and 1.1300/80.”
“EUR/USD may rebound marginally on an easing of military tensions, but we think it remains challenged over the next few quarters by ultra-dovish monetary policy settings, which should weigh on it toward 1.10.”
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