EUR/USD: LOSSES ARE STEADYING IN THE UPPER 1.06 ZONE – SCOTIABANK
The mid/upper 1.06 zone is set to cushion EUR losses, economists at Scotiabank report.
Resistance seen at 1.0685/1.0690
The EUR retains a soft undertone on the daily chart but losses are steadying in the upper 1.06 zone, right on the 38.2% retracement of the EUR’s rally last week.
The mid/upper 1.06 zone coincides with high/low support or congestion and EUR losses should be cushioned by still bullish-leaning intraday and daily trend strength oscillators.
Resistance is 1.0685/1.0690 intraday.
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