EUR/USD: Firm close on the week would boost chances of a modest extension towards 1.0650/1.0750 – Scotiabank

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20 October 2023

EUR/USD: Firm close on the week would boost chances of a modest extension towards 1.0650/1.0750 – Scotiabank

EUR/USD holds gains through high 1.05s. Economists at Scotiabank analyze the pair’s outlook.

Solid resistance remains at 1.0610 and 1.0640

EUR/USD is putting the broader downtrend off the July high under a little more pressure.

Shorter-term trend signals indicate there is some positive momentum developing around the EUR’s push higher.

Solid resistance remains above the market at 1.0610 and 1.0640 but a firm close on the week would boost chances of a modest extension towards 1.0650/1.0750 at least.

See – EUR/USD: More swings within the 1.05/1.06 range may remain the norm – ING

GBP/USD: Deeper rebound through 1.2190/1.2200 resistance needed to secure gains towards 1.23 – Scotiabank

AUD/USD to eventually reach 0.68 by Q4 2024 – CIBC

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