EUR/USD could recover to the low/mid-1.11s in the next 1-2 sessions – Scotiabank

Market news

31 July 2023

EUR/USD could recover to the low/mid-1.11s in the next 1-2 sessions – Scotiabank

EUR/USD is consolidating above 1.10. Economists at Scotiabank analyze the pair’s outlook.

Support is seen at 1.1010/15

Short-term trading patterns lean a little more EUR-bullish after the modest gains through European trade pressured a small bull flag on the hourly chart and managed to establish a break higher.

Patterns suggest the EUR/USD pair could recover to the low/mid-1.11s in the next 1-2 sessions.

Support aligns at 1.1010/15.

See: EUR/USD will not receive any momentum any longer if the ECB follows the Fed – Commerzbank

USD/JPY: June’s high of 144.50/145 expected to be an important hurdle – SocGen

Brent Crude Oil to witness a short-term up move towards April high of $87.50 – SocGen

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