EUR/USD is firm but little changed in the low 1.10s on the day. Economists at Scotiabank expect the pair to test levels above 1.12 on a break past 1.11.

EUR should remain well-supported on minor dips

“The EUR should remain well-supported on minor dips in the short run at least.”

“Near-term momentum looks neutral but the broader bull tone in this market remains intact.”

“Look for support on dips to 1.0975/1.1025 range in the near-term.”

“A push above 1.11 could still see the rally extend to test 1.12+.”