- EUR/USD: Losses will extend on a break under last week’s low at 1.0724 – Scotiabank
Market news
13 December 2023
EUR/USD: Losses will extend on a break under last week’s low at 1.0724 – Scotiabank
EUR/USD dips below the 1.08 level. Economists at Scotiabank analyze the pair’s outlook.
A clear push through 1.0825/1.0830 is needed to lift the Euro
EUR/USD’s peak on Tuesday in the low 1.08 zone reflects another failed test of the 200-DMA (1.0826) which has served as short-term resistance for spot over the past week.
Short-term price action suggests some upside potential in the EUR still after spot broke above the late November/early December downtrend but a clear push through 1.0825/1.0830 is needed to lift the EUR from here.
Losses will extend on a break under last week’s low at 1.0724.
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