EUR/USD has managed a solid recovery from sub-1.08 levels. Economists at Scotiabank note that the pair needs to surpass the 1.0950 zone to mark an important change of the bearish trend. 

Downward pressure remains well in place since last summer

“Downward pressure remains well in place since last summer and the EUR has only managed modest recoveries. The EUR would have to break past the daily high of 1.0936 and the 1.0950 area to suggest a clear change of trajectory.”

“Support after the mid-1.08s is the figure area and ~1.0780.”