EUR/USD: A push back to the 1.07/1.08 range remains a risk in the coming weeks – Scotiabank

Economists at Scotiabank analyze EUR/USD outlook as the pair holds range.

Key support in the low 1.09s remains vulnerable

Trading remains range-bound in effect but the EUR lost ground late last week, after being blocked by resistance at 1.10 and retains a weak technical undertone today.

Key support in the low 1.09s (bull channel base at 1.0923 and 40-Day Mvong Average at 1.0931) remains vulnerable.

A push back to the 1.07/1.08 range remains a risk in the coming weeks.

See – EUR/USD: Trading sustainably above 1.10 is premature – ING