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- EUR/USD may struggle to extend gains above 1.1000 – Scotiabank
EUR/USD may struggle to extend gains above 1.1000 – Scotiabank
EUR/USD’s gains have slowed after peaking near 1.0980 last week. Economists at Scotiabank analyze the pair’s outlook.
Net losses today could tilt risks towards a little more weakness in the near term
With both the Fed and ECB appearing to be headed for a June ease, EUR gains may struggle to extend through to 1.1000 for now.
There is nothing obviously bearish about price action on the short-term chart but net losses today for the EUR could tilt risks towards a little more weakness in the near term.
Support is 1.0900/1.0910. Resistance is 1.0970/1.0980.
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