- EUR/USD: Break under 1.1200 may open up the downside for a drop to 1.1125 – Scotiabank
Market news
19 July 2023
EUR/USD: Break under 1.1200 may open up the downside for a drop to 1.1125 – Scotiabank
EUR/USD losses steadied around the 1.12 level. Economists at Scotiabank analyze the pair’s outlook.
Price action is starting to lean a little more bearish
Flat trading over the past three sessions looks set to extend into Wednesday.
Daily open/close rates have coalesced around the 1.1225 point since Friday.
Spot remains supported on minor dips but can’t hold much of a bid above 1.1250.
Price action is starting to lean a little more bearish, with upward momentum stalling and a break under 1.1200 perhaps opening up the downside for a drop to 1.1125.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page