The EUR/USD pair is back above 1.09. The economists of Scotiabank discuss the prospects of the pair.
Bounce through 1.1045/50 needed to give Euro a more sustainable technical offer
Market positioning and ECB policy uncertainty suggest the EUR may remain dovish in the near term, but bargain hunters may start to show renewed interest in the EUR on dips to the below-low zone. 1.09 or 1.0950 from here.
Cash trends are subdued, but Euro losses have slowed as the market approaches the support defined by the 100 DMA and the trend line support of the late-2022 lows at 1.0925. Euro losses through here will point to a more sustained decline in all likelihood.
Resistance at 1.1025, while a bounce through 1.1045/50 is required to give the Euro a more sustainable technical offer.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
