EUR/USD: Gains to extend towards the 1.0730/40 resistance zone again – Scotiabank

Market news

1 June 2023

EUR/USD: Gains to extend towards the 1.0730/40 resistance zone again – Scotiabank

EUR/USD recovers from upper 1.06s. Economists at Scotiabank analyze the world's most popular currency pair technical outlook.

Broader signals are mixed

Modest gains back through the 1.07 area suggest a slightly firmer underlying tone for the EUR on the session, with the chance of gains extending towards the 1.0730/40 resistance zone again.

Broader signals are mixed; the EUR looks soft but has edged decisively off yesterday’s lows while bearish pressure on spot after losing support in the low 1.07s has not been consistent.

Currencies. Daily history for Thursday, June 1, 2023

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