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.
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