EUR/USD: Dips to the low 1.07 area continue to draw support – Scotiabank

Market news

13 September 2023

EUR/USD: Dips to the low 1.07 area continue to draw support – Scotiabank

EUR/USD is little changed in the low 1.07 area. Economists at Scotiabank analyze the pair’s outlook.

Push below 1.0705 to trigger more weakness

Spot gains from the low 1.07 area on Tuesday have reversed somewhat through overnight trade but the EUR still looks to be generating decent interest on dips to the figure area.

A couple of failures at 1.0770 resistance on the intraday chart do, however, raise the rise of more EUR weakness if spot pushes below 1.0705 (minor double top trigger).

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