EUR/USD consolidates below 1.07. Economists at Scotiabank analyze the pair’s outlook.
A clear push under 1.06 would pave the way for losses towards 1.04
EUR struggles to extend gains above 1.07. The broader price trend remains negative but the EUR’s massive sell-off over the past two months makes it look oversold.
EUR gains through 1.0765 resistance are needed to lift near-term technical prospects further.
Support is 1.0670/1.0675 and 1.0635.
A clear push under 1.06 would pave the way for EUR losses towards 1.04.
