EUR/USD: Regaining 1.10+ would add to positive, short-term momentum – Scotiabank

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9 August 2023

EUR/USD: Regaining 1.10+ would add to positive, short-term momentum – Scotiabank

EUR/USD regains upper 1.09s. Economists at Scotiabank analyze the pair’s outlook.

EUR/USD is trying to develop a base

Chart patterns suggest the EUR is trying to develop a base but the lack of upside progress and spot’s proximity to major support (1.0925/30 still) leaves something of a question market over near-term trends.

EUR gains above 1.10 would be positive while a break above 1.1040/45 in the next day or so (potential bull trigger) should support further gains towards the low/mid-1.11s.

See – EUR/USD: A return to 1.10 is possible today – ING

USD/CAD: Little appetite to drive the pair significantly higher at this point – Scotiabank

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