EUR/USD: Trend signals lean bullish – Scotiabank

Market news

16 June 2023

EUR/USD: Trend signals lean bullish – Scotiabank

EUR/USD consolidates in the mid-1.09s. Economists at Scotiabank analyze the pair’s outlook.

Firm support on minor weakness

Consolidation is evident in EUR/USD price action, with the EUR essentially moving sideways in a tight range around the mid-1.09s.

Trend signals lean EUR bullish, suggesting firm support on minor weakness.

EUR gains through the 40-DMA (1.0859 today – and important support now) should cue up more gains in the near-term through 1.10 and perhaps towards the May peak at 1.1090.

See: EUR/USD can push on to the 1.1000/1030 region today – ING

Currencies. Daily history for Friday, June 16, 2023

Commodities. Daily history for Thursday, June 15, 2023

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