EUR/USD could dive as low as 1.0100/05 – Scotiabank

Market news

21 November 2022

EUR/USD could dive as low as 1.0100/05 – Scotiabank

EUR/USD slide edges under 1.03 support zone. Economists at Scotiabank believe that the pair could extend its slump to 1.0100/05.

Risk of EUR/USD rally extending towards the low 1.05 removed for now

“Loss of support around 1.0310 has condemned the EUR to some short-term (at least) weakness and removed the risk of its rally extending towards the low 1.05 for now.”

“We still think better EUR support will emerge on dips but that could mean near 1.02 or – at worst – nearer more solid, short-term support at 1.0100/05.”

“Resistance is 1.0300/05.”

Currencies. Daily history for Monday, November 21, 2022

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