EUR/USD to stretch higher toward 1.0750 – Scotiabank

Market news

9 January 2023

EUR/USD to stretch higher toward 1.0750 – Scotiabank

EUR/USD’s rebound extends to the upper 1.06s. Economists at Scotiabank expect the world's most popular currency pair to test the 1.0750 mark.

Technicals are bullish

“A strong close on the session Friday (bullish outside range) following the spot’s rebound back above 1.0575/00 suggests additional upside risks from a technical point of view from here.”

“Resistance is seen at 1.0740/50.”

“Support is 1.0625/30 and 1.0600 on the day.”

“Additional gains will need to be driven by USD-negative developments.”

See: EUR/USD set to head up to 1.0735/85 – ING

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