EUR/USD: More downside in the offing below 1.1270 – Scotiabank

In the view of the analysts at Scotiabank, EUR/USD is expected to extend its downtrend below the 16-month lows of 1.1264 reached in Wednesday’s Asian trading. 

Key quotes

“See the current level as resistance at around 1.1325, followed by 1.1350/60.”

“The 1.1270 level will stand as support through the session - while oversold conditions possibly limit downside.”

“EUR/USD may see some buying interest on dips below the figure, but strong downward momentum should see the pair close under the level soon and there are no notable support markers except for the big figure areas.”