The pair EUR/USD falls below 1.07. The economists of Scotiabank they expect the pair to remain under bearish pressure.
Little margin for the Euro to rebound from here
“Market expectations for ECB hikes have eased slightly, but spreads between the euro area and the US two years ahead are widening again, pushing the euro lower (yield difference is 172 basis points, the highest since late March) and suggests little opportunity for the euro to rally at this time.
A clearer loss of support in the area below 1.07 will leave little room for a deeper Euro slide towards 1.05 in the coming weeks.
Bearish near-term trend momentum signals suggest limited room for EUR rebound from here (will keep a close eye on resistance at 1.0750 and below).”
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.
