EUR/USD remains near 1.06. The economists of Scotiabank They analyze the pair’s prospects.
Fresh minor highs above 1.0640 should trigger a push towards the mid/upper 1.07 zone
Positioning may be fueling support for the Euro to some extent, but a further change in relative economic surprises should give the EUR more obvious fundamental support.
The Euro continues to struggle to extend gains through the lower 1.06 zone, which could/should point to a bit more strength ahead. But the broader look of the charts is leaning in favor of the EUR: the steady gains from the beginning of the month continue and last Friday saw a firm (technically bullish) close to the week that follows the pattern of the bullish “hammer” from earlier of month.
With new minor highs (above 1.0640), the Euro should reach the middle and upper zone of 1.07.
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.
