EUR/USD: Only gains above 1.0950 would signal short-term strength – Scotiabank

EUR/USD gains modestly. Economists at Scotiabank analyze the pair’s outlook.

Potential base developing around the 1.0860/1.0865 area

EUR price action seems to reflect rather thin and choppy trading but there is a hint of a potential base developing around the 1.0860/1.0865 area that might develop a little more lift above 1.0885/1.0890.

There is resistance at 1.0915/1.0920, however, and only EUR/USD gains above 1.0950 would signal short-term strength in the pair from here at this point.

See: EUR/USD should keep hovering around 1.0850/1.0900 – ING