- EUR/USD looks soft but scope for losses should remain relatively limited – Scotiabank
Market news
8 August 2023
EUR/USD looks soft but scope for losses should remain relatively limited – Scotiabank
EUR/USD eases back to the mid-1.09 area. Economists at Scotiabank analyze the pair’s outlook.
Trend and moving average supports are converging in the 1.0925/30 area
The EUR looks soft but scope for losses should remain relatively limited after last week’s solid rejection of trend support in the low 1.09 area.
Trend and moving average (50 and 100-day) supports are converging in the 1.0925/30 area to provide the EUR with some solid-looking support.
Resistance is 1.10 and – firmer – at 1.1045/50.
See: EUR/USD unlikely to drift away from a 1.09-1.11 range this month – ING
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