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- EUR/USD: There is little sign of a rebound developing at this point – Scotiabank
EUR/USD: There is little sign of a rebound developing at this point – Scotiabank
EUR/USD steadies in low 1.09s but price action retains a soft undertone. Economists at Scotiabank report.
Gains through 1.1000 would suggest some additional stabilization
EUR losses are slowing as spot tests major support in the form of a trendline off the Sep 2022 spot low and the combined 50 and 100-DMA signals which are all converging around 1.0925.
While EUR losses are slowing, there is little sign of a rebound developing at this point. EUR gains through 1.1000 would suggest some additional stabilization.
A push through 1.1040/50 would be mildly bullish.
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