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- EUR/USD: Short-term price action is looking somewhat soft again – Scotiabank
EUR/USD: Short-term price action is looking somewhat soft again – Scotiabank
EUR/USD steadies but struggles to hold gains above 1.0900. Economists at Scotiabank analyze the pair’s outlook.
Support is 1.0845
The EUR squeezed a little higher from the intraday low on Wednesday, forming a minor bull ‘hammer’ pattern off the 200-DMA (1.0847 today). This too warrants attention.
EUR gains today have, however, failed to hold the intraday highs and very short-term price action is looking somewhat soft again on the session, suggesting the EUR is struggling to regain a 1.09 handle.
Resistance is 1.0920/1.0925. Support is 1.0845.
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